NOV (NYSE:NOV) Receives "In-Line" Rating from Evercore ISI

NOV (NYSE:NOV - Get Free Report)'s stock had its "in-line" rating reissued by investment analysts at Evercore ISI in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $18.00 price objective on the oil and gas exploration company's stock, down from their previous price objective of $25.00. Evercore ISI's price target would suggest a potential upside of 18.89% from the stock's previous close.

Other equities analysts have also recently issued reports about the stock. Susquehanna cut their target price on shares of NOV from $22.00 to $21.00 and set a "positive" rating on the stock in a report on Monday, October 28th. Atb Cap Markets lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Piper Sandler began coverage on shares of NOV in a research note on Thursday, December 19th. They set a "neutral" rating and a $17.00 target price for the company. Wells Fargo & Company dropped their price target on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Finally, Citigroup cut 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. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $20.00.

NOV Stock Performance

NYSE NOV traded up $0.26 on Wednesday, reaching $15.14. The stock had a trading volume of 2,544,659 shares, compared to its average volume of 2,768,829. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV has a 12-month low of $13.94 and a 12-month high of $21.23. The business's 50-day moving average price is $15.35 and its 200 day moving average price is $16.55. The stock has a market cap of $5.89 billion, a P/E ratio of 5.59, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66.

Insider Buying and Selling at NOV

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 completion of the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NOV

Several institutional investors and hedge funds have recently made changes to their positions in NOV. Quarry LP purchased a new stake in shares of NOV in the third quarter valued at about $36,000. American National Bank & Trust acquired a new position in shares of NOV during the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC lifted its stake in NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company's stock valued at $46,000 after buying an additional 2,735 shares in the last quarter. Brooklyn Investment Group acquired a new stake in NOV during the 3rd quarter valued at $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in NOV during the second quarter worth $78,000. 93.27% of the stock is currently owned by hedge funds and other 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.