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

Key Points

• NOV Inc. has a consensus analyst rating of “Hold” from 17 research firms, with the average 12-month price target at about $20.43.
• Recent analyst actions were mixed: Capital One Financial upgraded NOV to overweight, TD Cowen lifted it to strong-buy, while Susquehanna trimmed its target to $22 and kept a positive view.
• The company’s latest earnings missed expectations, with EPS of $0.05 versus the $0.17 estimate, though revenue matched forecasts at $2.05 billion; NOV also paid a special dividend of $0.09 per share.

NOV Inc. (NYSE:NOV - Get Free Report) has received a consensus recommendation of "Hold" from the seventeen research firms that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $20.4286.

A number of equities research analysts have recently weighed in on NOV shares. Capital One Financial upgraded shares of 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. Susquehanna decreased their target price on shares of NOV from $24.00 to $22.00 and set a "positive" rating on the stock in a research report on Wednesday, July 8th. TD Cowen raised shares of NOV from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 29th. Evercore upgraded shares of NOV to a "hold" rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of NOV in a research note on Wednesday, June 24th.

NOV Stock Performance

Shares of NYSE NOV opened at $18.90 on Monday. The stock's 50-day moving average is $19.81 and its 200 day moving average is $19.08. The stock has a market cap of $6.78 billion, a price-to-earnings ratio of 78.75 and a beta of 0.91. NOV has a 1-year low of $11.77 and a 1-year high of $21.55. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV - Get Free Report) last issued its earnings results on Tuesday, April 28th. 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 return on equity of 3.34% and a net margin of 1.05%.The firm had revenue of $2.05 billion during the quarter, compared to analysts' expectations of $2.05 billion. During the same period in the prior year, the company earned $0.19 EPS. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that NOV will post 0.9 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.09 per share. The ex-dividend date was Friday, June 12th. This represents a yield of 170.0%. NOV's dividend payout ratio is currently 150.00%.

Hedge Funds Weigh In On NOV

A number of large investors have recently bought and sold shares of NOV. V Square Quantitative Management LLC bought a new stake in NOV in the fourth quarter valued at approximately $28,000. Root Financial Partners LLC grew its holdings in shares of NOV by 39.9% in 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 last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of NOV by 659.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock worth $36,000 after purchasing an additional 1,978 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of NOV by 50.1% in 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 period. Finally, Altshuler Shaham Ltd raised its holdings in NOV by 36.8% during the 1st 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 last quarter. 93.27% of the stock is owned by hedge funds and other 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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