Brokerages Set NOV Inc. (NYSE:NOV) Target Price at $20.64

Shares of NOV Inc. (NYSE:NOVGet Free Report) have received an average rating of “Hold” from the seventeen research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $20.64.

Several equities analysts recently commented on the stock. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. Bank of America lowered their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets lowered their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Finally, ATB Capital reissued a “sector perform” rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th.

Check Out Our Latest Stock Analysis on NOV

NOV Price Performance

Shares of NYSE:NOV opened at $14.56 on Friday. 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 firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 5.37, a PEG ratio of 0.87 and a beta of 1.66. The company’s fifty day moving average price is $15.77 and its 200-day moving average price is $17.04. NOV has a one year low of $14.48 and a one year high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio is currently 11.07%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.85% of the company’s stock.

Institutional Trading of NOV

Several hedge funds have recently modified their holdings of the company. Deprince Race & Zollo Inc. lifted its position in NOV by 1,194.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after acquiring an additional 1,574,188 shares during the period. WINTON GROUP Ltd grew its position in shares of NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after purchasing an additional 798,303 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 2,735 shares during the period. TCW Group Inc. raised its position in shares of NOV by 59.6% during the 2nd quarter. TCW Group Inc. now owns 112,201 shares of the oil and gas exploration company’s stock valued at $2,133,000 after buying an additional 41,890 shares during the period. Finally, Bank of Montreal Can grew its holdings in shares of NOV by 519.1% during the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after purchasing an additional 367,308 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Company Profile

(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.

Recommended Stories

Analyst Recommendations for NOV (NYSE:NOV)

Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.