Stifel Nicolaus Lowers NOV (NYSE:NOV) Price Target to $23.00

NOV (NYSE:NOV - Free Report) had its target price reduced by Stifel Nicolaus from $25.00 to $23.00 in a research report released on Tuesday morning, MarketBeat reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company's stock.

Several other equities analysts have also recently commented on the company. The Goldman Sachs Group cut their price target on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Barclays lifted their price target on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. Raymond James increased 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. Evercore ISI reiterated an "in-line" rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Susquehanna cut their price target on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $19.00.

NOV Stock Up 3.9 %

Shares of NOV stock traded up $0.47 during trading on Tuesday, hitting $12.52. 3,187,759 shares of the stock traded hands, compared to its average volume of 3,896,142. The stock has a market cap of $4.74 billion, a P/E ratio of 7.77, a PEG ratio of 1.02 and a beta of 1.35. The company has a fifty day moving average price of $14.17 and a two-hundred day moving average price of $14.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV has a twelve month low of $10.84 and a twelve month high of $21.20.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating 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%. Equities research analysts predict that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.40%. NOV's payout ratio is 18.63%.

Institutional Investors Weigh In On NOV

Several institutional investors have recently modified their holdings of NOV. Huntington National Bank raised its position in shares of 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 valued at $32,000 after acquiring an additional 1,034 shares during the last quarter. Covestor Ltd boosted its holdings in NOV by 282.9% during the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after buying an additional 1,655 shares during the last quarter. UMB Bank n.a. increased its stake in shares of NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after acquiring an additional 1,612 shares during the last quarter. Signaturefd LLC raised its position in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 756 shares during the period. Finally, CoreFirst Bank & Trust bought a new position in NOV during the 4th quarter worth approximately $41,000. 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.