NOV (NYSE:NOV) Given New $19.00 Price Target at Susquehanna

NOV (NYSE:NOV - Get Free Report) had its price objective decreased by investment analysts at Susquehanna from $21.00 to $19.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a "positive" rating on the oil and gas exploration company's stock. Susquehanna's price objective points to a potential upside of 51.81% from the company's previous close.

NOV has been the topic of several other research reports. Piper Sandler upped their price objective on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Raymond James increased their target price on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Monday, March 24th. Finally, The Goldman Sachs Group lowered their price objective on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. 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. According to MarketBeat, NOV has a consensus rating of "Hold" and an average target price of $19.00.

NOV Price Performance

NYSE:NOV traded up $0.47 during trading hours on Monday, reaching $12.52. 3,187,759 shares of the company 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 P/E/G ratio of 1.02 and a beta of 1.35. NOV has a 1-year low of $10.84 and a 1-year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm's 50-day moving average is $14.17 and its 200-day moving average is $14.98.

NOV (NYSE:NOV - Get Free Report) last announced 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 the consensus estimate 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 expect that NOV will post 1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank grew its holdings in shares of NOV by 88.7% in 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 in the last quarter. Covestor Ltd increased its position in shares of 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 purchasing an additional 1,655 shares during the last quarter. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 1,612 shares in the last quarter. Signaturefd LLC boosted its holdings 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 buying an additional 756 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV in the fourth quarter valued at $42,000. 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.