NOV Inc. (NYSE:NOV) Stock Has Average Price Target of $21.58

Key Points

• Analysts have a consensus “Hold” rating on NOV: 9 of 15 rate it Hold, 4 Buy, and 2 Sell. Their average 1-year price target is $21.58.
• NOV shares recently traded at $18.05. In its latest quarter, the company met EPS expectations at $0.25 and reported revenue of $2.23 billion, up 2.3% year over year.
• NOV declared a quarterly dividend of $0.09 per share, equivalent to $0.36 annually and a 2.0% yield.

NOV Inc. (NYSE:NOV - Get Free Report) has been given a consensus rating of "Hold" by the fifteen brokerages that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.58.

A number of research analysts have recently issued reports on the company. Barclays raised their price objective on NOV from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Thursday, October 29th. Weiss Ratings reissued a "hold (c)" rating on shares of NOV in a research note on Monday, September 21st. Citigroup dropped their target price on NOV from $21.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, November 5th. TD Cowen raised their price target on NOV from $25.00 to $26.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Zacks Research cut NOV from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 26th.

NOV Trading Up 1.4%

Shares of NOV traded up $0.26 during mid-day trading on Friday, reaching $18.05. The company's stock had a trading volume of 2,554,002 shares, compared to its average volume of 4,128,027. NOV has a 52 week low of $14.30 and a 52 week high of $21.93. The stock has a market cap of $6.44 billion, a PE ratio of 45.14, a P/E/G ratio of 2.93 and a beta of 0.96. The company's fifty day moving average price is $19.35 and its two-hundred day moving average price is $19.63. The company has a current ratio of 2.51, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Wednesday, October 28th. The oil and gas exploration company reported $0.25 EPS for the quarter, meeting the consensus estimate of $0.25. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. NOV had a net margin of 1.65% and a return on equity of 4.23%. The firm's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 EPS. On average, analysts predict that NOV will post 1.01 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend is Friday, December 4th. NOV's dividend payout ratio is 90.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd increased its stake in shares of NOV by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company's stock valued at $38,000 after buying an additional 546 shares during the period. State of Michigan Retirement System raised its holdings in shares of NOV by 0.7% in the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company's stock valued at $1,632,000 after acquiring an additional 600 shares in the last quarter. Corient Private Wealth LP lifted its stake in NOV by 6.3% in the second quarter. Corient Private Wealth LP now owns 10,643 shares of the oil and gas exploration company's stock worth $197,000 after acquiring an additional 628 shares during the period. Parkside Financial Bank & Trust lifted its stake in NOV by 133.6% in the second quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company's stock worth $26,000 after acquiring an additional 807 shares during the period. Finally, Signaturefd LLC grew its holdings in NOV by 19.7% during the 3rd quarter. Signaturefd LLC now owns 4,939 shares of the oil and gas exploration company's stock worth $92,000 after acquiring an additional 813 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

About NOV

NOV Inc. designs, manufactures and supports equipment and technology used across the oil and gas industry. Its offerings include drilling systems and components, downhole tools, tubular-handling equipment, and products and services for well completion and production. The company also provides equipment and integrated systems for land and offshore drilling rigs, along with aftermarket parts, maintenance and other field services. NOV serves customers worldwide, including drilling contractors, oilfield service companies and energy producers.

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