NOV Inc. (NYSE:NOV) Receives Consensus Recommendation of “Hold” from Analysts

Shares of NOV Inc. (NYSE:NOV) have been assigned a consensus rating of “Hold” from the sixteen ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $21.23.

Several research analysts recently commented on NOV shares. Citigroup decreased their target price on shares of NOV from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a report on Monday, September 21st. Barclays decreased their price objective on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Zacks Research downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 26th. Finally, TD Cowen increased their target price on shares of NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a report on Thursday, July 30th.

Insiders Place Their Bets

In other news, Director David Harrison sold 9,594 shares of NOV stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the sale, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. This trade represents a 7.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.15% of the company’s stock.

Institutional Trading of NOV

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust increased its position in NOV by 133.6% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 807 shares during the period. IFP Advisors Inc lifted its position in shares of NOV by 198.6% in the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,130 shares during the period. Root Financial Partners LLC lifted its position in shares of NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares during the period. Rothschild Investment LLC boosted its stake in shares of NOV by 50.1% during the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 780 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of NOV during the second quarter valued at about $37,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NOV opened at $18.75 on Friday. The stock’s 50 day simple moving average is $20.44 and its 200 day simple moving average is $19.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. NOV has a 1 year low of $12.28 and a 1 year high of $21.93. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 72.11 and a beta of 0.94.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The business’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.29 earnings per share. As a group, analysts predict that NOV will post 0.99 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. NOV’s dividend payout ratio is presently 138.46%.

NOV Company Profile

NOV Inc is a global provider of equipment, technologies and services used in the oil and gas industry and related energy markets. The company supplies products for drilling, well construction, completion, production and maintenance activities across the energy value chain.

NOV’s offerings include land and offshore drilling rigs, rig equipment, hoisting systems, top drives, mud pumps, drill bits, downhole tools, wellbore technologies, completion equipment and production systems. Its technologies are used by exploration and production companies, drilling contractors and oilfield service providers in onshore and offshore operations.

The company serves customers in major energy-producing regions around the world, including North America, South America, Europe, the Middle East, Africa and Asia-Pacific.