Brokerages Set NOV Inc. (NYSE:NOV) Price Target at $24.07

NOV Inc. (NYSE:NOV) has received a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.07.

A number of equities analysts have recently issued reports on NOV shares. Susquehanna reiterated a “positive” rating and set a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Benchmark lowered NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Raymond James decreased their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. TD Cowen cut their target price on NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Finally, StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st.

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOV. Commonwealth Equity Services LLC lifted its holdings in NOV by 15.8% during the third quarter. Commonwealth Equity Services LLC now owns 22,967 shares of the oil and gas exploration company’s stock valued at $480,000 after purchasing an additional 3,129 shares in the last quarter. Raymond James & Associates raised its stake in NOV by 49.2% in the 3rd quarter. Raymond James & Associates now owns 295,598 shares of the oil and gas exploration company’s stock valued at $6,178,000 after purchasing an additional 97,537 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of NOV by 10.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 17,403 shares of the oil and gas exploration company’s stock valued at $364,000 after buying an additional 1,594 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NOV by 14.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,740 shares of the oil and gas exploration company’s stock worth $1,541,000 after acquiring an additional 9,079 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in NOV by 4.7% during the 3rd quarter. Park Avenue Securities LLC now owns 15,135 shares of the oil and gas exploration company’s stock valued at $316,000 after acquiring an additional 676 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Trading Down 0.2 %

Shares of NYSE NOV opened at $18.92 on Friday. NOV has a twelve month low of $14.05 and a twelve month high of $21.91. The firm has a market cap of $7.48 billion, a PE ratio of 7.60, a price-to-earnings-growth ratio of 0.79 and a beta of 1.74. The business has a fifty day simple moving average of $18.85 and a two-hundred day simple moving average of $19.06. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.32 earnings per share. Analysts expect that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.06%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is presently 8.03%.

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.