NOV’s (NOV) “In-Line” Rating Reiterated at Evercore ISI

Evercore ISI reissued their in-line rating on shares of NOV (NYSE:NOV) in a research note published on Wednesday, Marketbeat reports. The brokerage currently has a $18.00 price target on the oil and gas exploration company’s stock, down from their previous price target of $25.00.

NOV has been the subject of a number of other research reports. Susquehanna lowered their target price on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. TD Cowen dropped their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $20.00.

NOV Price Performance

Shares of NYSE:NOV opened at $15.64 on Wednesday. The company’s fifty day moving average is $15.28 and its 200 day moving average is $16.51. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV has a 52 week low of $13.94 and a 52 week high of $21.23. The stock has a market cap of $6.08 billion, a PE ratio of 5.77, a PEG ratio of 0.90 and a beta of 1.66.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.92%. NOV’s payout ratio is 11.07%.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently made changes to their positions in NOV. Quarry LP purchased a new position in shares of NOV in the third quarter worth $36,000. UMB Bank n.a. grew its position 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 valued at $34,000 after acquiring an additional 1,612 shares during the period. American National Bank & Trust purchased a new position in NOV during the third quarter valued at $39,000. International Assets Investment Management LLC grew its holdings in NOV by 1,590.1% during 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. Finally, Brooklyn Investment Group purchased a new stake in NOV in the third quarter worth about $48,000. Hedge funds and other institutional investors 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.