NOV (NYSE:NOV) Upgraded by Royal Bank of Canada to Outperform Rating

NOV (NYSE:NOV - Get Free Report) was upgraded by research analysts at Royal Bank of Canada from a "sector perform" rating to an "outperform" rating in a research report issued on Monday, Marketbeat reports. The brokerage currently has a $22.00 price objective on the oil and gas exploration company's stock. Royal Bank of Canada's price objective indicates a potential upside of 44.45% from the company's previous close.

Other research analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. ATB Capital reissued a "sector perform" rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Barclays lifted their target price on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Finally, Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $19.60.

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NOV Trading Down 1.3 %

NOV traded down $0.20 on Monday, hitting $15.23. The company had a trading volume of 812,804 shares, compared to its average volume of 3,647,790. The company's fifty day moving average price is $15.01 and its 200 day moving average price is $15.40. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. NOV has a 1 year low of $13.78 and a 1 year high of $21.20. The firm has a market cap of $5.80 billion, a P/E ratio of 9.46, a PEG ratio of 1.02 and a beta of 1.66.

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 EPS for the quarter, topping 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, equities analysts expect that NOV will post 1.4 earnings per share for the current year.

Hedge Funds Weigh In On NOV

A number of large investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 126.6% in the fourth 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 acquiring an additional 19,399 shares during the period. Hara Capital LLC acquired a new position in NOV during the fourth quarter worth about $1,790,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NOV in the fourth quarter valued at about $4,960,000. Jefferies Financial Group Inc. acquired a new stake in shares of NOV during the 4th quarter valued at approximately $762,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of NOV during the 4th quarter worth approximately $162,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.