NOV Inc. (NYSE:NOV) Stock Has Consensus Target Price of $21.31 According to Analysts

Key Points

• Analysts maintain a “Hold” consensus on NOV, with nine hold, five buy, and two sell ratings among 16 analysts. The average 12-month price target is $21.31, compared with the reported share price of $19.87.
• NOV exceeded quarterly expectations, reporting adjusted earnings of $0.31 per share versus the $0.17 consensus and revenue of $2.13 billion versus $2.08 billion expected. However, revenue declined 2.5% year over year.
• The company paid a quarterly dividend of $0.09 per share, equivalent to a 1.8% annualized yield, while institutional investors own 93.27% of NOV’s outstanding shares.

NOV Inc. (NYSE:NOV - Get Free Report) has earned an average recommendation of "Hold" from the sixteen analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $21.31.

Several analysts recently commented on the company. Susquehanna upped their price target on NOV from $22.00 to $24.00 and gave the company a "positive" rating in a research report on Thursday, July 30th. Capital One Financial raised NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective for the company in a report on Thursday, June 4th. Morgan Stanley set a $21.00 target price on shares of NOV in a research note on Wednesday, July 15th. TD Cowen upped their target price on shares of NOV from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of NOV in a research report on Monday.

Insider Buying and Selling at NOV

In other news, Director David Harrison sold 9,594 shares of NOV stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the transaction, the director owned 126,763 shares in the company, valued at approximately $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On NOV

A number of large investors have recently bought and sold shares of NOV. Parkside Financial Bank & Trust raised its holdings in shares of NOV by 133.6% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company's stock valued at $26,000 after purchasing an additional 807 shares during the period. IFP Advisors Inc grew its holdings in NOV by 198.6% during the second quarter. IFP Advisors Inc now owns 1,699 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,130 shares during the period. Root Financial Partners LLC grew its holdings in NOV by 39.9% during the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock worth $36,000 after purchasing an additional 552 shares during the period. Rothschild Investment LLC increased its position in NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company's stock worth $37,000 after buying an additional 780 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in NOV in the second quarter valued at approximately $37,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NYSE:NOV opened at $19.87 on Friday. The firm has a market capitalization of $7.08 billion, a PE ratio of 76.43 and a beta of 0.94. 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 has a 12-month low of $12.28 and a 12-month high of $21.93. The firm has a 50-day moving average price of $20.50 and a 200 day moving average price of $19.89.

NOV (NYSE:NOV - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company's quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. Research analysts anticipate that NOV will post 0.99 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, September 11th. NOV's dividend payout ratio is currently 138.46%.

About NOV

NOV Inc is a global provider of equipment, technologies and services used in the oil and gas industry. The company supplies products for drilling, well construction, completion and production operations, serving onshore and offshore customers across the energy value chain.

Its offerings include land and offshore drilling equipment, rig systems, drilling tools, tubular-handling equipment, wellbore technologies, completion tools and production systems. NOV also provides aftermarket parts, technical support, repair and maintenance services, and other solutions intended to improve the efficiency, safety and reliability of energy operations.

NOV serves customers in major energy-producing regions around the world through manufacturing, service and distribution operations.

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