NOV Inc. (NYSE:NOV) Given Average Rating of "Hold" by Brokerages

Key Points

• Analyst consensus is “Hold”: Of 16 brokerages covering NOV, nine recommend holding the stock, five rate it a buy and two rate it a sell. The average 12-month price target is $21.31.
• NOV’s latest quarterly results exceeded expectations, with EPS of $0.31 versus a $0.17 consensus and revenue of $2.13 billion, though revenue declined 2.5% year over year.
• The company declared a quarterly dividend of $0.09, equivalent to an annualized $0.36 payout and a 1.7% yield. Institutional investors own a substantial 93.27% of NOV’s outstanding shares.

NOV Inc. (NYSE:NOV - Get Free Report) has been assigned an average recommendation of "Hold" from the sixteen ratings firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $21.3077.

NOV has been the topic of several analyst reports. Capital One Financial upgraded shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price target on the stock in a research note on Thursday, June 4th. Susquehanna upped their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a "positive" rating in a report on Thursday, July 30th. Morgan Stanley set a $21.00 target price on shares of NOV in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $19.00 price target on NOV in a research report on Wednesday, June 3rd. Finally, Barclays decreased their price target on NOV from $21.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, July 31st.

NOV Price Performance

Shares of NYSE:NOV opened at $21.24 on Tuesday. The company's fifty day moving average is $19.68 and its two-hundred day moving average is $19.74. The company has a market cap of $7.57 billion, a P/E ratio of 81.69 and a beta of 0.92. NOV has a 12-month low of $12.28 and a 12-month high of $21.68. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.14. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The firm's revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. Equities analysts expect that NOV will post 0.99 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. NOV's dividend payout ratio (DPR) is currently 138.46%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 9,594 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the sale, the director directly owned 126,763 shares of the company's stock, valued at approximately $2,435,117.23. This represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.15% of the stock is owned by company insiders.

Institutional Trading of NOV

A number of institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. bought a new stake in NOV in the second quarter valued at about $697,976,000. Pzena Investment Management LLC bought a new position in NOV during the second quarter worth about $674,776,000. California State Teachers Retirement System boosted its holdings in NOV by 1,725.0% during the second quarter. California State Teachers Retirement System now owns 7,716,652 shares of the oil and gas exploration company's stock valued at $143,144,000 after purchasing an additional 7,293,818 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NOV by 1,743.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company's stock valued at $79,080,000 after purchasing an additional 4,785,015 shares during the period. Finally, Bank of America Corp DE bought a new stake in shares of NOV in the 2nd quarter valued at approximately $77,520,000. 93.27% of the stock is currently owned by institutional investors.

NOV Company Profile

National Oilwell Varco NYSE: NOV is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV's business is organized to serve upstream energy companies around the world.

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