NOV Inc. (NYSE:NOV) Receives $24.07 Consensus Target Price from Analysts

Shares of NOV Inc. (NYSE:NOV) have earned an average recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $24.07.

NOV has been the subject of a number of research analyst reports. TD Cowen reduced their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Susquehanna reaffirmed a “positive” rating and set a $26.00 target price on shares of NOV in a report on Monday, April 8th.

Hedge Funds Weigh In On NOV

Several institutional investors and hedge funds have recently modified their holdings of NOV. Rise Advisors LLC purchased a new position in NOV in the first quarter valued at about $26,000. Riverview Trust Co bought a new position in NOV during the first quarter valued at approximately $39,000. Bruce G. Allen Investments LLC bought a new stake in NOV in the fourth quarter worth approximately $49,000. GAMMA Investing LLC acquired a new position in shares of NOV during the 4th quarter worth $61,000. Finally, International Assets Investment Management LLC raised its holdings in shares of NOV by 1,306.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 3,240 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Up 0.1 %

NOV stock opened at $18.87 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. The company has a 50-day simple moving average of $18.44 and a 200-day simple moving average of $18.82. The firm has a market capitalization of $7.46 billion, a P/E ratio of 7.58, a P/E/G ratio of 0.59 and a beta of 1.70. NOV has a one year low of $15.47 and a one year high of $21.91.

NOV (NYSE:NOV) last posted its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. During the same period last year, the firm earned $0.32 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that NOV will post 1.56 earnings per share for the current year.

NOV Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.59%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio is currently 12.05%.

About NOV

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.