NOV (NYSE:NOV) Given a $17.00 Price Target at Susquehanna

Key Points

• Susquehanna has lowered its price target for NOV from $18.00 to $17.00, indicating a potential 30.42% upside from its previous close, while maintaining a "positive" rating on the stock.
• Other analysts have also adjusted their price targets, with Morgan Stanley setting it at $15.00 and Wells Fargo reducing it to $10.00, reflecting a mixed sentiment towards the stock.
• NOV has reported earnings per share of $0.29 for the latest quarter, missing estimates slightly, and has experienced a 1.3% decline in revenue compared to the previous year.

NOV (NYSE:NOV - Get Free Report) received a $17.00 price target from research analysts at Susquehanna in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The firm presently has a "positive" rating on the oil and gas exploration company's stock. Susquehanna's target price suggests a potential upside of 40.03% from the company's current price.

Several other research analysts also recently weighed in on NOV. The Goldman Sachs Group decreased their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Stifel Nicolaus reduced their price objective on shares of NOV from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, July 16th. Morgan Stanley reduced their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays reduced their price objective 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. Finally, Royal Bank Of Canada reduced their price objective on shares of NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $16.69.

NOV Price Performance

NOV stock opened at $12.14 on Wednesday. NOV has a 1 year low of $10.84 and a 1 year high of $19.35. The firm has a 50 day moving average price of $13.04 and a 200 day moving average price of $13.60. The company has a market cap of $4.51 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 3.36 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.58.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). The business had revenue of $2.19 billion for the quarter, compared to analysts' expectations of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%. NOV's quarterly revenue was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Sell-side analysts predict that NOV will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On NOV

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise acquired a new position in shares of NOV in the first quarter worth about $25,000. Huntington National Bank lifted its position in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd lifted its position in shares of NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOV in the first quarter worth approximately $36,000. Finally, CX Institutional bought a new position in NOV during the first quarter valued at approximately $42,000. Institutional investors own 93.27% of the company's stock.

About NOV

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.