NOV Inc. (NYSE:NOV) Stock Has Average Target Price of $21.23 According to Analysts

Key Points

• Analyst consensus is “Hold”: Of 16 analysts covering NOV, nine recommend holding, five recommend buying, and two recommend selling. The average 12-month price target is $21.23.
• NOV reported quarterly EPS of $0.31, exceeding the $0.17 consensus estimate, while revenue reached $2.13 billion versus expectations of $2.08 billion; revenue declined 2.5% year over year.
• The company pays a quarterly dividend of $0.09 per share, equal to an annualized $0.36 and a 1.9% yield. Institutional investors own approximately 93.27% of NOV’s outstanding stock.

Shares of NOV Inc. (NYSE:NOV - Get Free Report) have been given an average recommendation of "Hold" by the sixteen analysts that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $21.23.

A number of equities analysts have commented on the stock. Susquehanna upped their target price on shares of NOV from $22.00 to $24.00 and gave the stock a "positive" rating in a research note on Thursday, July 30th. Barclays decreased their price target on shares of NOV from $21.00 to $20.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Morgan Stanley set a $21.00 price target on NOV in a report on Wednesday, July 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of NOV in a report on Monday, September 21st. Finally, Citigroup dropped their price objective on NOV from $22.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 30th.

NOV Trading Up 1.0%

NYSE NOV opened at $18.95 on Wednesday. The company's 50-day moving average price is $20.15 and its 200-day moving average price is $19.90. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.75 billion, a PE ratio of 72.87 and a beta of 0.97. NOV has a 12 month low of $12.85 and a 12 month high of $21.93.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.14. The company 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 for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS. Equities research analysts forecast that NOV will post 0.99 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. NOV's payout ratio is 138.46%.

Insider Buying and Selling at NOV

In other NOV news, Director David Harrison sold 9,594 shares of the company's stock in a transaction 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 in the company, valued at approximately $2,435,117.23. This represents a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company's stock.

Hedge Funds Weigh In On NOV

Several institutional investors have recently made changes to their positions in NOV. Nisa Investment Advisors LLC lifted its holdings in NOV by 16.9% during the third quarter. Nisa Investment Advisors LLC now owns 32,691 shares of the oil and gas exploration company's stock worth $612,000 after buying an additional 4,719 shares during the period. Curated Wealth Partners LLC bought a new stake in NOV during the 3rd quarter valued at $191,000. Krilogy Financial LLC bought a new stake in NOV during the 3rd quarter valued at $256,000. Sax Wealth Advisors LLC purchased a new position in shares of NOV in the 3rd quarter valued at $209,000. Finally, GAMMA Investing LLC increased its holdings in shares of NOV by 15.9% in the 3rd quarter. GAMMA Investing LLC now owns 14,384 shares of the oil and gas exploration company's stock valued at $269,000 after acquiring an additional 1,977 shares during the period. Hedge funds and other institutional investors own 93.27% of the company's stock.

About NOV

NOV Inc NYSE: NOV is a Houston-based technology and equipment provider serving the global energy industry. The company develops and manufactures products and systems used in oil and natural gas drilling, well construction, completion and production operations.

Its offerings include land and offshore drilling rigs, rig equipment and components, downhole tools, drill pipe, wellbore technologies, pressure-control systems, and equipment used to enhance production. NOV also provides aftermarket parts, technical support, maintenance and other services designed to help energy companies operate and maintain their equipment.

The company was formed in 2005 through the merger of National Oilwell and Varco International, building on businesses with much longer histories in the oilfield equipment industry.

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