Evercore Upgrades NOV (NYSE:NOV) to Hold

Key Points

• Evercore upgraded NOV to a "hold" and other recent analyst moves (including a TD Cowen upgrade to "strong‑buy") leave the consensus rating at Hold with an average target price of $19.29.
• Q1 results missed expectations: NOV reported $0.05 EPS vs. ~$0.17 consensus and saw revenue decline 2.4% year‑over‑year; the stock trades near $20 with a market cap of ~$7.3B and a P/E of about 85.
• Significant insider selling and bearish options activity were noted—executives sold more than 220,000 shares in February and traders bought roughly 2,616 put contracts (a ~1,353% jump), signaling increased downside hedging or bearish bets.

NOV (NYSE:NOV - Get Free Report) was upgraded by analysts at Evercore to a "hold" rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts also recently commented on NOV. BMO Capital Markets lifted their price objective on shares of NOV from $19.00 to $20.00 and gave the company a "market perform" rating in a research report on Monday, February 9th. TD Cowen raised shares of NOV from a "hold" rating to a "strong-buy" rating in a research report on Wednesday. Citigroup lifted their price objective on shares of NOV from $17.00 to $20.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Royal Bank Of Canada lifted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research report on Wednesday. Finally, Morgan Stanley lifted their price objective on shares of NOV from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $19.29.

NOV Stock Down 1.5%

Shares of NOV stock opened at $20.45 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. NOV has a 1 year low of $11.55 and a 1 year high of $20.93. The firm's fifty day moving average price is $19.41 and its two-hundred day moving average price is $17.38. The firm has a market capitalization of $7.34 billion, a P/E ratio of 85.22 and a beta of 0.94.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm's quarterly revenue was down 2.4% on a year-over-year basis. On average, equities analysts predict that NOV will post 0.98 EPS for the current fiscal year.

Insider Activity

In related news, VP Craig L. Weinstock sold 70,000 shares of NOV stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the completion of the sale, the vice president owned 256,319 shares of the company's stock, valued at approximately $5,146,885.52. The trade was a 21.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of NOV stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the sale, the insider directly owned 269,694 shares of the company's stock, valued at $5,439,727.98. The trade was a 35.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.15% of the company's stock.

Institutional Trading of NOV

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new stake in NOV in the 4th quarter valued at about $28,000. Root Financial Partners LLC boosted its holdings in NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after purchasing an additional 552 shares during the period. Summit Securities Group LLC bought a new stake in NOV in the 1st quarter valued at about $40,000. CIBC Private Wealth Group LLC boosted its holdings in NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock valued at $36,000 after purchasing an additional 1,978 shares during the period. Finally, Rothschild Investment LLC boosted its holdings in NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company's stock valued at $37,000 after purchasing an additional 780 shares during the period. Institutional investors own 93.27% of the company's stock.

NOV News Roundup

Here are the key news stories impacting NOV this week:

• Positive Sentiment: TD Cowen upgraded NOV from "hold" to "strong-buy," which can boost investor interest and buying pressure following the firm's coverage change. TD Cowen Upgrade (via Zacks)
• Neutral Sentiment: Recent earnings-call writeups summarize management commentary on Q1 operational challenges and strategic opportunities — mixed messaging that may limit immediate conviction until guidance or trendlines are clearer. Earnings Call Summary
• Neutral Sentiment: Additional earnings call highlights provide color on how NOV is navigating market headwinds and potential pockets of demand — useful for tracking whether margins or backlog improve in coming quarters. Earnings Call Highlights
• Negative Sentiment: Q1 results missed expectations: NOV reported $0.05 EPS vs. consensus roughly $0.17 and revenue modestly below estimates, with year-over-year revenue decline — a headline that likely pressured sentiment following the April 27 release.
• Negative Sentiment: Unusual options activity: traders bought ~2,616 put contracts (a ~1,353% jump vs. average), indicating increased bearish bets or hedging demand that can amplify downside pressure on the stock.
• Neutral Sentiment: Key balance-sheet/valuation context: market cap ~$7.3B, PE ~85, debt/equity ~0.27, and liquidity ratios are solid — these longer-term fundamentals may temper panic selling but also highlight a premium valuation relative to recent earnings weakness.

About NOV

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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