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

NOV Inc. (NYSE:NOV - Get Free Report) has been given an average recommendation of "Hold" by the nineteen brokerages that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $17.38.

Several brokerages have issued reports on NOV. Royal Bank Of Canada cut their price objective on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus cut their price target on NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group decreased their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Piper Sandler dropped their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Morgan Stanley reduced their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th.

Hedge Funds Weigh In On NOV

Several hedge funds have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC increased its stake in shares of NOV by 382.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock valued at $277,000 after acquiring an additional 14,432 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in NOV by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company's stock valued at $44,089,000 after purchasing an additional 91,800 shares during the period. Signaturefd LLC increased its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. GAMMA Investing LLC raised its holdings in NOV by 4,053.5% in the first quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company's stock worth $1,001,000 after purchasing an additional 64,167 shares during the period. Finally, UMB Bank n.a. boosted its position in shares of NOV by 66.7% during the first quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company's stock worth $59,000 after purchasing an additional 1,558 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Stock Up 2.1%

Shares of NYSE NOV opened at $13.19 on Thursday. The business has a fifty day moving average of $12.66 and a two-hundred day moving average of $13.80. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.65. NOV has a 52-week low of $10.84 and a 52-week high of $21.20. The stock has a market cap of $4.96 billion, a PE ratio of 8.79, a PEG ratio of 3.22 and a beta of 1.28.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a net margin of 6.68% and a return on equity of 9.11%. The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter last year, the firm earned $0.30 earnings per share. NOV's quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend yield of 3.63%. NOV's dividend payout ratio (DPR) is presently 20.00%.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.

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