Stifel Nicolaus Has Lowered Expectations for NOV (NYSE:NOV) Stock Price

NOV (NYSE:NOV - Free Report) had its price target decreased by Stifel Nicolaus from $25.00 to $23.00 in a research note published on Tuesday, MarketBeat.com reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company's stock.

A number of other brokerages have also recently issued reports on NOV. The Goldman Sachs Group dropped their target price 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. Barclays upped their price objective on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Tuesday, February 18th. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Susquehanna cut their price target on NOV from $21.00 to $19.00 and set a "positive" rating for the company in a report on Monday, April 14th. Finally, Royal Bank of Canada raised shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, March 24th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.00.

NOV Stock Up 3.9 %

NYSE NOV traded up $0.47 during trading hours on Tuesday, hitting $12.52. 3,187,759 shares of the company traded hands, compared to its average volume of 3,898,985. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The business's 50-day moving average is $14.17 and its 200-day moving average is $14.98. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 7.77, a P/E/G ratio of 1.02 and a beta of 1.35. NOV has a twelve month low of $10.84 and a twelve month high of $21.20.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Sell-side analysts anticipate that NOV will post 1.4 earnings per share for the current 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. This represents a $0.30 annualized dividend and a dividend yield of 2.40%. The ex-dividend date was Friday, March 14th. NOV's payout ratio is presently 18.63%.

Institutional Trading of NOV

Several institutional investors and hedge funds have recently modified their holdings of the stock. Mariner LLC raised its position in NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock valued at $353,000 after buying an additional 672 shares during the last quarter. Signaturefd LLC lifted its position in shares of NOV by 41.3% during 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. Huntington National Bank boosted its holdings in NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. ProShare Advisors LLC grew its position in NOV by 6.1% in the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock worth $266,000 after purchasing an additional 1,042 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of NOV by 20.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after buying an additional 1,225 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.