Brokerages Set NOV Inc. (NYSE:NOV) PT at $24.58

NOV Inc. (NYSE:NOV) has received an average rating of “Moderate Buy” from the fourteen ratings firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $24.58.

Several brokerages recently commented on NOV. Piper Sandler reduced their target price on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. TD Cowen upped their target price on NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI raised NOV to a “strong-buy” rating in a research report on Friday, July 26th. Barclays boosted their price target on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Monday, July 29th.

NOV Stock Up 0.1 %

NOV stock opened at $17.94 on Monday. NOV has a twelve month low of $16.77 and a twelve month high of $21.91. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $18.47 and a 200-day moving average of $18.44. The stock has a market capitalization of $7.10 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.59 and a beta of 1.70.

NOV (NYSE:NOV) last released its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.22. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $0.39 EPS. On average, equities research analysts anticipate that NOV will post 1.61 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.67%. NOV’s dividend payout ratio (DPR) is 12.05%.

Institutional Investors Weigh In On NOV

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC grew its position in NOV by 1,306.5% in the fourth 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 acquiring an additional 3,240 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in NOV by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,354 shares of the oil and gas exploration company’s stock valued at $372,000 after buying an additional 1,197 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of NOV by 1.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock valued at $1,020,000 after acquiring an additional 580 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in NOV by 135.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 33,113 shares of the oil and gas exploration company’s stock worth $672,000 after acquiring an additional 19,079 shares during the last quarter. Finally, Louisiana State Employees Retirement System bought a new position in NOV in the fourth quarter valued at about $2,243,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.