NOV Inc. (NYSE:NOV) Receives $19.60 Consensus Price Target from Analysts

Shares of NOV Inc. (NYSE:NOV - Get Free Report) have received a consensus recommendation of "Hold" from the eighteen analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $19.60.

A number of brokerages recently weighed in on NOV. Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Atb Cap Markets cut shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Seaport Res Ptn downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Evercore ISI reiterated an "in-line" rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, ATB Capital restated a "sector perform" rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of NOV by 126.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 34,726 shares of the oil and gas exploration company's stock valued at $507,000 after buying an additional 19,399 shares in the last quarter. Hara Capital LLC bought a new stake in NOV in the fourth quarter valued at about $1,790,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in NOV in the fourth quarter worth about $4,960,000. Jefferies Financial Group Inc. bought a new position in NOV during the fourth quarter worth about $762,000. Finally, Mackenzie Financial Corp acquired a new stake in NOV during the fourth quarter valued at approximately $162,000. 93.27% of the stock is owned by institutional investors.

Remove Ads

NOV Stock Up 2.3 %

Shares of NOV traded up $0.35 during mid-day trading on Tuesday, hitting $15.47. 3,495,530 shares of the company's stock were exchanged, compared to its average volume of 3,668,206. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 9.61, a P/E/G ratio of 1.02 and a beta of 1.66. The firm has a fifty day moving average of $14.99 and a two-hundred day moving average of $15.41. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $13.78 and a twelve month high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, sell-side analysts forecast that NOV will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, March 14th. NOV's dividend payout ratio is presently 18.63%.

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.