NOV Inc. (NYSE:NOV - Get Free Report)'s share price hit a new 52-week low on Thursday after Barclays lowered their price target on the stock from $16.00 to $12.00. Barclays currently has an underweight rating on the stock. NOV traded as low as $14.09 and last traded at $14.19, with a volume of 6665533 shares changing hands. The stock had previously closed at $14.56.
A number of other equities research analysts also recently issued reports on the company. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Morgan Stanley decreased their target price on NOV from $25.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, September 16th. ATB Capital reissued a "sector perform" rating and set a $19.00 target price on shares of NOV in a research report on Tuesday, December 10th. Bank of America lowered their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, Wells Fargo & Company decreased their price objective on shares of NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $20.14.
View Our Latest Research Report on NOV
Insider Transactions at NOV
In related news, Director David D. Harrison sold 1,784 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.85% of the company's stock.
Institutional Trading of NOV
Hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp boosted its holdings in NOV by 3.4% in the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company's stock valued at $565,000 after purchasing an additional 991 shares during the period. HM Payson & Co. raised its stake in NOV by 2.1% in the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company's stock valued at $783,000 after purchasing an additional 1,000 shares in the last quarter. KBC Group NV grew its stake in NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company's stock worth $177,000 after buying an additional 1,163 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of NOV by 2.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company's stock valued at $980,000 after buying an additional 1,164 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its holdings in shares of NOV by 7.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 18,960 shares of the oil and gas exploration company's stock worth $360,000 after acquiring an additional 1,261 shares during the last quarter. Institutional investors own 93.27% of the company's stock.
NOV Trading Down 0.9 %
The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The stock has a 50 day moving average of $15.70 and a 200 day moving average of $17.00. The firm has a market cap of $5.47 billion, a P/E ratio of 5.19, a PEG ratio of 0.87 and a beta of 1.66.
NOV Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.13%. NOV's payout ratio is presently 11.07%.
About NOV
(
Get Free Report)
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.
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