NOV Inc. (NYSE:NOV) Receives Consensus Recommendation of "Hold" from Analysts

NOV Inc. (NYSE:NOV - Get Free Report) has earned a consensus recommendation of "Hold" from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $18.00.

A number of brokerages have issued reports on NOV. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. JPMorgan Chase & Co. cut their target price on shares of NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Barclays cut their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Piper Sandler cut their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Wells Fargo & Company raised their target price on shares of NOV from $10.00 to $11.00 and gave the company an "underweight" rating in a report on Thursday, May 1st.

NOV Trading Up 0.9%

Shares of NOV opened at $13.06 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a 50 day simple moving average of $13.20 and a two-hundred day simple moving average of $14.54. The firm has a market cap of $4.91 billion, a P/E ratio of 8.11, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same period last year, the business earned $0.30 earnings per share. The company's quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.30%. NOV's dividend payout ratio (DPR) is 20.00%.

Institutional Trading of NOV

Several institutional investors and hedge funds have recently made changes to their positions in the business. Pzena Investment Management LLC lifted its position in shares of NOV by 0.3% during the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock worth $632,610,000 after purchasing an additional 106,011 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 buying an additional 566,160 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of 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 buying an additional 1,329,327 shares during the period. Pacer Advisors Inc. increased its stake in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock valued at $179,718,000 after buying an additional 12,210,514 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of NOV by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock valued at $97,815,000 after buying an additional 302,009 shares during the period. 93.27% of the stock is currently owned by institutional investors.

NOV Company Profile

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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