NOV (NYSE:NOV) Sets New 52-Week Low - Here's What Happened

NOV Inc. (NYSE:NOV - Get Free Report)'s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $13.81 and last traded at $13.93, with a volume of 69854 shares trading hands. The stock had previously closed at $14.21.

Wall Street Analyst Weigh In

NOV has been the topic of several analyst reports. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Evercore ISI restated an "in-line" rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Citigroup downgraded NOV from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Finally, Piper Sandler lifted their price objective on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.60.

NOV Stock Up 4.6 %

The firm has a market cap of $5.71 billion, a price-to-earnings ratio of 9.32, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. 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 50-day moving average of $15.00 and a 200-day moving average of $15.69.

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

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. NOV's dividend payout ratio is currently 18.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its position in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd boosted its position in NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after acquiring an additional 1,655 shares during the period. UMB Bank n.a. boosted its position in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP acquired a new position in NOV during the 3rd quarter worth $36,000. Finally, Signaturefd LLC boosted its position in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after acquiring an additional 756 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

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.