NOV Inc. (NYSE:NOV) Receives Consensus Rating of “Hold” from Brokerages

NOV Inc. (NYSE:NOV) has earned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $15.8333.

Several equities analysts recently issued reports on NOV shares. Royal Bank Of Canada raised their price target on NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Citigroup lifted their target price on shares of NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Morgan Stanley set a $16.00 price target on shares of NOV in a research report on Monday, December 15th. Zacks Research raised shares of NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Piper Sandler upped their price objective on shares of NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 18th.

NOV Price Performance

Shares of NYSE:NOV opened at $15.66 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.55 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.71 billion, a PE ratio of 15.66, a PEG ratio of 5.18 and a beta of 0.97. The company’s fifty day moving average is $15.31 and its 200 day moving average is $13.82. NOV has a 52 week low of $10.84 and a 52 week high of $16.96.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. During the same period in the prior year, the firm earned $0.33 EPS. NOV’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, December 5th. NOV’s dividend payout ratio (DPR) is currently 30.00%.

Insider Activity

In other NOV news, Director Christian S. Kendall bought 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was bought at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the acquisition, the director directly owned 85,949 shares in the company, valued at $1,242,822.54. The trade was a 438.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Canandaigua National Trust Co of Florida increased its position in NOV by 114.0% during the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company’s stock valued at $962,000 after buying an additional 41,235 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of NOV by 111.3% in the second quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock worth $6,006,000 after acquiring an additional 250,705 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its holdings in shares of NOV by 64.9% during the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company’s stock valued at $1,258,000 after acquiring an additional 39,848 shares in the last quarter. Empowered Funds LLC raised its position in shares of NOV by 2,266.9% in the 1st quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company’s stock worth $7,755,000 after purchasing an additional 488,027 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in NOV by 18.8% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company’s stock worth $10,006,000 after purchasing an additional 127,433 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.