NOV (NYSE:NOV - Get Free Report) had its target price decreased by analysts at Stifel Nicolaus from $23.00 to $22.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the oil and gas exploration company's stock. Stifel Nicolaus' target price would suggest a potential upside of 70.87% from the company's previous close.
NOV has been the topic of several other reports. Susquehanna lowered their target price on shares of NOV from $19.00 to $18.00 and set a "positive" rating on the stock in a research note on Tuesday, July 1st. The Goldman Sachs Group lowered their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered their target price on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Piper Sandler lowered their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NOV has an average rating of "Hold" and an average target price of $17.31.
Read Our Latest Research Report on NOV
NOV Stock Performance
Shares of NYSE NOV traded down $0.08 during mid-day trading on Wednesday, hitting $12.88. The stock had a trading volume of 1,663,389 shares, compared to its average volume of 4,323,188. NOV has a twelve month low of $10.84 and a twelve month high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.65. The firm has a market cap of $4.84 billion, a PE ratio of 8.58, a PEG ratio of 3.24 and a beta of 1.28. The company has a 50 day moving average of $12.92 and a two-hundred day moving average of $13.71.
NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a net margin of 6.68% and a return on equity of 9.11%. The business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same period in the previous year, the company posted $0.30 earnings per share. NOV's revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts predict that NOV will post 1.4 EPS for the current fiscal year.
Institutional Trading of NOV
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC increased its holdings in NOV by 88.9% in the 1st quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company's stock valued at $107,276,000 after purchasing an additional 3,362,853 shares during the last quarter. Nuveen LLC acquired a new stake in NOV in the 1st quarter valued at approximately $33,742,000. Dimensional Fund Advisors LP increased its holdings in NOV by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after purchasing an additional 1,934,243 shares during the last quarter. Ameriprise Financial Inc. boosted its position in NOV by 40.7% in the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after buying an additional 1,652,917 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new position in NOV in the 1st quarter valued at approximately $23,589,000. Institutional investors and hedge funds own 93.27% of the company's stock.
About NOV
(
Get Free Report)
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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