NOV (NYSE:NOV) Price Target Cut to $12.00 by Analysts at Barclays

NOV (NYSE:NOV - Free Report) had its target price reduced by Barclays from $16.00 to $12.00 in a report issued on Wednesday,Benzinga reports. They currently have an underweight rating on the oil and gas exploration company's stock.

A number of other equities research analysts have also commented on the company. Citigroup lowered NOV from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. ATB Capital reaffirmed a "sector perform" rating and set a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. BMO Capital Markets cut their target price on shares of NOV from $22.00 to $20.00 and set a "market perform" rating for the company in a research report on Thursday, October 10th. Atb Cap Markets cut shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Finally, Bank of America dropped their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $20.36.

NOV Trading Down 2.5 %

NOV stock traded down $0.37 during mid-day trading on Wednesday, reaching $14.19. 6,665,533 shares of the stock traded hands, compared to its average volume of 3,736,943. NOV has a 52-week low of $14.09 and a 52-week high of $21.23. The stock's fifty day moving average is $15.74 and its 200-day moving average is $17.02. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.52 billion, a P/E ratio of 5.24, a P/E/G ratio of 0.87 and a beta of 1.66.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, December 6th. NOV's dividend payout ratio is presently 11.07%.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is owned by insiders.

Institutional Trading of NOV

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tidal Investments LLC grew its holdings in shares of NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company's stock valued at $339,000 after buying an additional 3,645 shares during the period. Barclays PLC lifted its holdings in shares of NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of NOV in the 3rd quarter valued at approximately $1,713,000. XTX Topco Ltd bought a new stake in NOV during the 3rd quarter worth approximately $955,000. Finally, Wolverine Trading LLC lifted its stake in NOV by 29.1% in the third quarter. Wolverine Trading LLC now owns 17,688 shares of the oil and gas exploration company's stock valued at $283,000 after buying an additional 3,988 shares in the last quarter. 93.27% of the stock is 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.