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

Key Points

• Analysts maintain a “Hold” consensus on NOV, with eight hold, five buy, two sell and one strong-buy ratings. The average 12-month price target is approximately $21.31, above the reported $19.87 share price.
• NOV exceeded quarterly expectations, reporting $0.31 EPS versus the $0.17 consensus and $2.13 billion in revenue, though revenue declined 2.5% year over year.
• Institutional investors own a substantial 93.27% of NOV, while an insider recently sold 9,594 shares. The stock trades near its 50-day and 200-day moving averages and has a 12-month range of $11.77 to $21.55.

Shares of NOV Inc. (NYSE:NOV - Get Free Report) have earned a consensus rating of "Hold" from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.3077.

A number of brokerages have weighed in on NOV. Capital One Financial upgraded shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price objective on the stock in a report on Thursday, June 4th. Morgan Stanley set a $21.00 target price on shares of NOV in a report on Wednesday, July 15th. Susquehanna upped their price target on NOV from $22.00 to $24.00 and gave the stock a "positive" rating in a research note on Thursday, July 30th. TD Cowen raised their price objective on NOV from $25.00 to $26.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Finally, Royal Bank Of Canada lifted their price objective on NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th.

Insider Activity

In other news, Director David D. Harrison sold 9,594 shares of NOV stock in a transaction dated 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 transaction, the director owned 126,763 shares of the company's stock, valued at $2,435,117.23. The trade was a 7.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in shares of NOV during the fourth quarter valued at approximately $28,000. Root Financial Partners LLC raised 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 worth $36,000 after acquiring an additional 552 shares during the last quarter. Altshuler Shaham Ltd lifted its position in NOV by 36.8% in 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 acquiring an additional 546 shares in the last quarter. Summit Securities Group LLC purchased a new stake in NOV during the 1st quarter valued at $40,000. Finally, CIBC Private Wealth Group LLC boosted its stake in NOV by 659.3% during 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 last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

Shares of NOV stock opened at $19.87 on Friday. The company's fifty day moving average price is $19.53 and its 200-day moving average price is $19.48. The stock has a market cap of $7.08 billion, a PE ratio of 76.42 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. NOV has a 12 month low of $11.77 and a 12 month high of $21.55.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.14. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the business earned $0.29 EPS. NOV's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that NOV will post 0.94 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a special dividend, which was paid on Friday, June 26th. Stockholders 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 dividend yield of 170.0%. NOV's dividend payout ratio (DPR) is presently 138.46%.

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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