NOV (NYSE:NOV) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded NOV from a "strong sell" rating to a "hold" rating, indicating a more cautious outlook from analysts.
• Several equities analysts, including Stifel Nicolaus and JPMorgan Chase & Co., have lowered their price targets for NOV, reflecting mixed confidence in the stock's future performance.
• NOV reported $2.19 billion in revenue for the last quarter, slightly above analyst expectations, but its earnings per share missed estimates, showing a decline from the previous year's results.

NOV (NYSE:NOV - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

A number of other equities analysts also recently commented on NOV. Stifel Nicolaus reduced their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, July 30th. JPMorgan Chase & Co. downgraded shares of NOV from an "overweight" rating to a "neutral" rating and cut their price target for the company from $17.00 to $15.00 in a report on Wednesday, July 30th. Royal Bank Of Canada cut their price target on shares of NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a report on Wednesday, July 30th. Weiss Ratings reissued a "hold (c-)" rating on shares of NOV in a report on Saturday, September 27th. Finally, Piper Sandler cut their price target on shares of NOV from $16.00 to $14.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Seven analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $16.56.

NOV Stock Performance

NYSE:NOV opened at $13.71 on Monday. NOV has a 1 year low of $10.84 and a 1 year high of $16.86. The firm's fifty day simple moving average is $12.86 and its 200 day simple moving average is $12.90. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.09 billion, a PE ratio of 11.23, a PEG ratio of 3.91 and a beta of 1.26.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.57 earnings per share. NOV's revenue for the quarter was down 1.3% on a year-over-year basis. NOV has set its Q3 2025 guidance at EPS. On average, sell-side analysts anticipate that NOV will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Cantonale Vaudoise bought a new position in NOV during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in NOV during the 1st quarter worth approximately $36,000. CX Institutional bought a new position in NOV during the 1st quarter worth approximately $42,000. CoreFirst Bank & Trust bought a new position in NOV during the 2nd quarter worth approximately $35,000. Finally, Quarry LP boosted its stake in NOV by 119.7% during the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company's stock worth $52,000 after acquiring an additional 1,856 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

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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