NOV (NYSE:NOV) Earns "Positive" Rating from Susquehanna

NOV (NYSE:NOV - Get Free Report)'s stock had its "positive" rating reissued by investment analysts at Susquehanna in a report issued on Monday, Benzinga reports. They presently have a $26.00 price objective on the oil and gas exploration company's stock. Susquehanna's target price would indicate a potential upside of 27.58% from the company's current price.

A number of other brokerages have also weighed in on NOV. Raymond James lowered their price objective on shares of NOV from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, February 5th. StockNews.com upgraded shares of NOV from a "sell" rating to a "hold" rating in a report on Wednesday, January 31st. Benchmark downgraded shares of NOV from a "buy" rating to a "hold" rating in a research report on Tuesday, January 16th. Piper Sandler reduced their price objective on shares of NOV from $25.00 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, February 20th. Finally, ATB Capital set a $33.00 price objective on shares of NOV and gave the company an "outperform" rating in a research report on Friday, December 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NOV presently has a consensus rating of "Hold" and a consensus target price of $24.36.

NOV Price Performance

NOV stock traded down $0.13 during midday trading on Monday, reaching $20.38. The company had a trading volume of 2,106,932 shares, compared to its average volume of 4,588,906. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51. NOV has a 1 year low of $14.05 and a 1 year high of $21.91. The company has a market capitalization of $8.06 billion, a P/E ratio of 8.12, a P/E/G ratio of 0.38 and a beta of 1.74. The firm has a 50-day moving average price of $18.23 and a 200-day moving average price of $19.26.

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

Insider Buying and Selling at NOV

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the firm's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, 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 document filed with the SEC, which can be accessed through the SEC website. 1.77% of the stock is owned by company insiders.

Institutional Trading of NOV

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of NOV by 0.9% in the third 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. lifted its holdings in NOV by 0.8% during the first quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company's stock valued at $698,718,000 after purchasing an additional 284,784 shares in the last quarter. FMR LLC lifted its holdings in NOV by 30.9% during the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company's stock valued at $386,962,000 after purchasing an additional 4,369,540 shares in the last quarter. State Street Corp lifted its holdings in NOV by 3.8% during the second quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company's stock valued at $226,836,000 after purchasing an additional 513,846 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in NOV by 48.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company's stock valued at $246,962,000 after purchasing an additional 3,843,096 shares in the last quarter. Hedge funds and other 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.