Analysts Set NOV Inc. (NYSE:NOV) PT at $19.60

NOV Inc. (NYSE:NOV) has been given a consensus recommendation of “Hold” by the eighteen brokerages that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $19.60.

Several equities analysts have recently weighed in on the company. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday. Evercore ISI reissued an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

Institutional Investors Weigh In On NOV

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in NOV by 32.2% in the third quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company’s stock worth $1,756,000 after purchasing an additional 26,792 shares in the last quarter. Quest Partners LLC bought a new stake in shares of NOV in the 3rd quarter valued at approximately $96,000. Charles Schwab Investment Management Inc. raised its position in shares of NOV by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock valued at $46,760,000 after acquiring an additional 55,056 shares in the last quarter. Cerity Partners LLC lifted its stake in NOV by 5.4% during the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock worth $1,026,000 after purchasing an additional 3,274 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in NOV by 17.6% in the third quarter. Algert Global LLC now owns 266,014 shares of the oil and gas exploration company’s stock worth $4,248,000 after purchasing an additional 39,780 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.27 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. NOV has a one year low of $13.78 and a one year high of $21.20. The company has a 50 day moving average price of $15.01 and a 200 day moving average price of $15.40.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Sell-side analysts anticipate that NOV will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

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.