NOV Inc. (NYSE:NOV) Receives $21.31 Consensus PT from Analysts

Shares of NOV Inc. (NYSE:NOV) have received an average rating of “Hold” from the sixteen analysts that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $21.3077.

A number of analysts recently issued reports on the company. Citigroup increased their price objective on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Barclays lowered their price target on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. Zacks Research raised shares of NOV from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada increased their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th.

Insiders Place Their Bets

In other NOV news, Director David D. Harrison sold 9,594 shares of the company’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the transaction, the director directly owned 126,763 shares in the company, valued at $2,435,117.23. This represents a 7.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in NOV during the fourth quarter valued at approximately $28,000. Root Financial Partners LLC raised its position in shares of NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 552 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 1,978 shares during the last quarter. Rothschild Investment LLC grew its position in NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 780 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in NOV during the second quarter valued at about $37,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

Shares of NOV opened at $19.62 on Friday. The firm has a market capitalization of $7.00 billion, a P/E ratio of 75.48 and a beta of 0.92. NOV has a 52 week low of $11.77 and a 52 week high of $21.55. The stock has a 50 day moving average price of $19.53 and a two-hundred day moving average price of $19.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. NOV’s quarterly revenue was down 2.5% on a year-over-year basis. Equities analysts forecast that NOV will post 0.94 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a yield of 170.0%. NOV’s dividend payout ratio (DPR) is currently 138.46%.

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.