NOV (NYSE:NOV) Upgraded at TD Cowen

Key Points

• TD Cowen upgraded NOV from a "hold" to a strong-buy, though analyst coverage remains mixed and the MarketBeat consensus rating is still "Hold" with an average price target of $19.29.
• NOV's Q1 missed expectations, reporting $0.05 EPS versus $0.17 consensus and $2.05B revenue (down 2.4% year‑over‑year), with management flagging margin pressure from Middle East disruptions.
• Management approved a $200M Brazil flexibles expansion and a $340M–$370M 2026 capex range to target higher‑margin growth, even as insiders sold shares and institutional ownership stands at about 93.3%.

NOV (NYSE:NOV - Get Free Report) was upgraded by research analysts at TD Cowen from a "hold" rating to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

NOV has been the topic of several other reports. Royal Bank Of Canada upped their price objective on NOV from $21.00 to $22.00 and gave the stock a "sector perform" rating in a report on Wednesday. Citigroup upped their price objective on NOV from $17.00 to $20.00 and gave the stock a "neutral" rating in a report on Wednesday, February 11th. Susquehanna upped their price objective on NOV from $22.00 to $24.00 and gave the stock a "positive" rating in a report on Wednesday. Barclays raised NOV from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $15.00 to $20.00 in a report on Wednesday, February 4th. Finally, Piper Sandler increased their price target on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NOV has a consensus rating of "Hold" and an average price target of $19.29.

NOV Trading Up 2.3%

NOV stock opened at $20.75 on Wednesday. NOV has a 1-year low of $11.44 and a 1-year high of $20.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. The company has a market capitalization of $7.48 billion, a price-to-earnings ratio of 86.48 and a beta of 0.94. The business has a 50 day simple moving average of $19.41 and a two-hundred day simple moving average of $17.36.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.31% and a net margin of 1.05%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts anticipate that NOV will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling at NOV

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of the company's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares of the company's stock, valued at $5,146,885.52. This represents a 21.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Joseph W. Rovig sold 151,086 shares of the company's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total value of $3,047,404.62. Following the completion of the transaction, the insider directly owned 269,694 shares in the company, valued at $5,439,727.98. This trade represents a 35.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.15% of the company's stock.

Hedge Funds Weigh In On NOV

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in NOV during the fourth quarter valued at about $28,000. Root Financial Partners LLC raised its stake in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after buying an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in NOV by 659.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock valued at $36,000 after buying an additional 1,978 shares during the last quarter. Rothschild Investment LLC raised its stake in NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company's stock valued at $37,000 after buying an additional 780 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company's stock worth $40,000 after purchasing an additional 709 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Key Stories Impacting NOV

Here are the key news stories impacting NOV this week:

• Positive Sentiment: Management approved a $200M expansion for Brazil flexibles and signaled targeted growth investments, which support future revenue capture in higher‑margin product lines. NOV outlines $340M-$370M 2026 capex plan as it approves $200M Brazil flexibles expansion
• Positive Sentiment: Company set a $340M–$370M 2026 capex range — a balanced program that funds growth while remaining conservative on spending, which investors may read as supportive of cash‑flow and return potential. NOV outlines $340M-$370M 2026 capex plan as it approves $200M Brazil flexibles expansion
• Neutral Sentiment: Q1 results were mixed: revenue was roughly in line with expectations while adjusted EPS was essentially flat to slightly below consensus — the quarter shows resilience but limited near‑term upside. NOV Inc. Q1 2026 Earnings Call Summary
• Neutral Sentiment: Management emphasized industry recovery opportunities and a disciplined backlog conversion approach — these comments temper downside while leaving upside dependent on market recovery. NOV Inc. Balances Resilience And Headwinds In Q1
• Negative Sentiment: Management flagged margin pressure from Middle East disruptions and softer near‑term demand in some segments — a headwind for profitability that could weigh on forward guidance and multiple expansion. NOV Q1 deep dive: Middle East disruptions pressure margins, management eyes industry recovery
• Negative Sentiment: Initial market reaction after the print included a price pullback in some coverage (investors digesting the mixed beat/miss and margin commentary), though later headlines about capex/expansion helped shares recover. NOV NYSE: NOV reports Q1 CY2026 in line with expectations but stock drops

About NOV

National Oilwell Varco NYSE: NOV is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV's business is organized to serve upstream energy companies around the world.

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