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Analysts Set NOV Inc. (NYSE:NOV) Target Price at $17.31

NOV logo with Energy background

Key Points

  • NOV Inc. has received a consensus recommendation of "Hold" from eighteen ratings firms, with three sell ratings, seven hold ratings, and eight buy ratings.
  • The average one-year price target for NOV's stock among analysts is $17.31, while price targets have varied from $10.00 to $23.00 across different firms.
  • The company recently reported quarterly earnings of $0.19 per share, missing the consensus estimate and reflecting a 2.4% decline in revenue compared to the previous year.
  • MarketBeat previews the top five stocks to own by September 1st.

NOV Inc. (NYSE:NOV - Get Free Report) has been assigned a consensus rating of "Hold" from the eighteen brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $16.69.

NOV has been the topic of a number of research reports. Piper Sandler dropped their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays decreased their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI decreased their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $17.00 to $15.00 in a research note on Wednesday. Finally, Susquehanna decreased their target price on shares of NOV from $18.00 to $17.00 and set a "positive" rating on the stock in a research note on Wednesday.

View Our Latest Analysis on NOV

Institutional Investors Weigh In On NOV

Several large investors have recently bought and sold shares of the business. Pzena Investment Management LLC increased its position in NOV by 2.8% during the second quarter. Pzena Investment Management LLC now owns 42,708,890 shares of the oil and gas exploration company's stock valued at $530,872,000 after acquiring an additional 1,144,486 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in NOV by 2.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 40,487,598 shares of the oil and gas exploration company's stock valued at $616,221,000 after acquiring an additional 833,158 shares during the last quarter. Vanguard Group Inc. increased its position in NOV by 1.5% during the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after acquiring an additional 566,160 shares during the last quarter. Dimensional Fund Advisors LP increased its position in NOV by 7.9% during the first quarter. Dimensional Fund Advisors LP now owns 18,122,455 shares of the oil and gas exploration company's stock valued at $275,818,000 after acquiring an additional 1,329,327 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company's stock valued at $107,276,000 after acquiring an additional 3,362,853 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Stock Performance

Shares of NOV traded down $0.08 on Monday, reaching $12.70. The company's stock had a trading volume of 521,992 shares, compared to its average volume of 4,363,954. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.76. The stock has a market capitalization of $4.77 billion, a P/E ratio of 10.43, a PEG ratio of 3.44 and a beta of 1.28. The stock's 50 day simple moving average is $13.03 and its two-hundred day simple moving average is $13.63. NOV has a 12-month low of $10.84 and a 12-month high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 EPS. Research analysts forecast that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

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

NOV Company Profile

(Get Free Report

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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Analyst Recommendations for NOV (NYSE:NOV)

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