NOV Inc. (NYSE:NOV) Receives $19.00 Average Price Target from Brokerages

Shares of NOV Inc. (NYSE:NOV - Get Free Report) have been assigned an average rating of "Hold" from the nineteen analysts that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $19.00.

A number of equities research analysts have weighed in on NOV shares. Susquehanna reduced their target price on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Raymond James raised their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Finally, The Goldman Sachs Group dropped their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its position in NOV by 8.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 135,504 shares of the oil and gas exploration company's stock valued at $2,062,000 after acquiring an additional 10,652 shares during the last quarter. QRG Capital Management Inc. increased its position in NOV by 12.1% in the first quarter. QRG Capital Management Inc. now owns 26,928 shares of the oil and gas exploration company's stock worth $410,000 after buying an additional 2,896 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in NOV by 382.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock worth $277,000 after purchasing an additional 14,432 shares in the last quarter. Hennessy Advisors Inc. boosted its stake in NOV by 52.4% in the 1st quarter. Hennessy Advisors Inc. now owns 50,900 shares of the oil and gas exploration company's stock worth $775,000 after purchasing an additional 17,500 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of NOV by 62.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company's stock worth $861,000 after buying an additional 21,813 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Trading Up 2.7 %

NOV traded up $0.33 during trading on Friday, reaching $12.49. 186,360 shares of the company's stock were exchanged, compared to its average volume of 3,871,622. NOV has a one year low of $10.84 and a one year high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.73 billion, a PE ratio of 7.76, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The firm has a fifty day moving average price of $14.02 and a two-hundred day moving average price of $14.92.

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

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio (DPR) is 18.63%.

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.