Brokerages Set NOV Inc. (NYSE:NOV) PT at $24.36

Shares of NOV Inc. (NYSE:NOV - Get Free Report) have earned an average rating of "Hold" from the fifteen analysts that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $24.36.

Several research firms have weighed in on NOV. StockNews.com raised NOV from a "sell" rating to a "hold" rating in a report on Wednesday, January 31st. TD Cowen lowered their price target on NOV from $31.00 to $30.00 and set an "outperform" rating on the stock in a report on Monday, February 5th. ATB Capital set a $33.00 price target on NOV and gave the company an "outperform" rating in a report on Friday, December 22nd. Susquehanna reaffirmed a "positive" rating and issued a $26.00 price target on shares of NOV in a report on Monday. Finally, Raymond James lowered their price target on NOV from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Monday, February 5th.

NOV Price Performance

NOV traded down $0.13 during trading on Tuesday, reaching $20.25. 2,237,601 shares of the company were exchanged, compared to its average volume of 4,554,383. The company's 50-day moving average is $18.24 and its two-hundred day moving average is $19.26. The company has a market cap of $8.01 billion, a price-to-earnings ratio of 8.07, a P/E/G ratio of 0.38 and a beta of 1.74. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. NOV has a 12-month low of $14.05 and a 12-month high of $21.91.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $1.10. The business had revenue of $2.34 billion for the quarter, compared to analysts' expectations of $2.26 billion. NOV had a return on equity of 10.79% and a net margin of 11.57%. The firm's quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.26 EPS. Research analysts forecast that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 0.99%. NOV's payout ratio is 7.97%.

Insider Buying and Selling

In related news, CAO Christy Lynn Novak sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NOV

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of NOV by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company's stock worth $629,810,000 after buying an additional 349,025 shares during the last quarter. BlackRock Inc. grew its position in shares of NOV by 0.8% in the 1st quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company's stock worth $698,718,000 after buying an additional 284,784 shares during the last quarter. FMR LLC grew its position in shares of NOV by 30.9% in the 3rd quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company's stock worth $386,962,000 after buying an additional 4,369,540 shares during the last quarter. State Street Corp grew its position in shares of NOV by 3.8% in the 2nd quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company's stock worth $226,836,000 after buying an additional 513,846 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of NOV by 48.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company's stock worth $246,962,000 after buying an additional 3,843,096 shares during the last quarter. 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.