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

Key Points

• NOV Inc. has a consensus analyst rating of "Hold" from 17 firms, with an average 1-year price target of about $19.36. Ratings are mixed, including three sells, ten holds, three buys, and one strong buy.
• The company reported Q1 earnings of $0.05 per share, missing the consensus estimate of $0.17, while revenue came in at $2.05 billion, roughly in line with expectations. Revenue was down 2.4% year over year.
• NOV also announced a special dividend of $0.09 per share, payable on June 26 to shareholders of record on June 12. The stock has traded near its 52-week high, opening at $20.81 versus a 1-year range of $11.65 to $21.38.

NOV Inc. (NYSE:NOV - Get Free Report) has earned an average rating of "Hold" from the seventeen research firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $19.3571.

A number of research firms have issued reports on NOV. Susquehanna boosted their price target on NOV from $22.00 to $24.00 and gave the company a "positive" rating in a research note on Wednesday, April 29th. BMO Capital Markets boosted their price objective on NOV from $19.00 to $20.00 and gave the company a "market perform" rating in a research note on Monday, February 9th. Piper Sandler boosted their price target on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 9th. Morgan Stanley boosted their price target on NOV from $18.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 15th. Finally, TD Cowen raised NOV from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th.

Insider Activity at NOV

In other news, insider Joseph W. Rovig sold 151,086 shares of the company's stock in a transaction that occurred on 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. This represents a 35.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Craig L. Weinstock sold 70,000 shares of the company's stock in a transaction that occurred on Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the sale, the vice president directly owned 256,319 shares in the company, valued at $5,146,885.52. This trade represents a 21.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is owned by corporate insiders.

Institutional Trading of NOV

Hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new stake in shares of NOV during the 4th quarter worth approximately $28,000. Root Financial Partners LLC raised its holdings in NOV by 39.9% during 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 buying an additional 552 shares during the period. 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 period. Summit Securities Group LLC purchased a new stake in NOV during the 1st quarter valued at $40,000. Finally, CIBC Private Wealth Group LLC raised its holdings 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 buying an additional 1,978 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Price Performance

NYSE NOV opened at $20.81 on Friday. The business's fifty day moving average price is $19.62 and its 200-day moving average price is $18.07. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of 86.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. NOV has a 1-year low of $11.65 and a 1-year high of $21.38.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. NOV's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. On average, equities analysts predict that NOV will post 0.91 earnings per share for the current year.

NOV Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a dividend of $0.09 per share. This represents a dividend yield of 173.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV's dividend payout ratio is 150.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.