Brokerages Set NOV Inc. (NYSE:NOV) PT at $18.40

NOV Inc. (NYSE:NOV) has been assigned an average rating of “Hold” from the seventeen ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $18.40.

A number of brokerages have weighed in on NOV. Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Morgan Stanley set a $16.00 target price on shares of NOV in a research report on Monday, December 15th. BMO Capital Markets boosted their price target on shares of NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Evercore ISI set a $19.00 price objective on shares of NOV in a research note on Friday, February 6th. Finally, TD Cowen reissued a “buy” rating on shares of NOV in a research note on Friday, February 6th.

NOV Trading Up 1.1%

NOV stock opened at $19.21 on Friday. NOV has a 12-month low of $10.84 and a 12-month high of $19.60. The business’s 50-day moving average is $17.30 and its 200 day moving average is $14.95. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 50.55 and a beta of 0.93.

NOV (NYSE:NOV) last released its earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.23). The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.41 EPS. On average, sell-side analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.075 per share. The ex-dividend date was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.6%. NOV’s dividend payout ratio (DPR) is presently 78.95%.

Insider Transactions at NOV

In related news, Director Christian S. Kendall purchased 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The shares were acquired at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the acquisition, the director directly owned 85,949 shares in the company, valued at approximately $1,242,822.54. The trade was a 438.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NOV

Several hedge funds and other institutional investors have recently bought and sold shares of NOV. V Square Quantitative Management LLC purchased a new stake in shares of NOV in the 4th quarter valued at approximately $28,000. CoreFirst Bank & Trust acquired a new position in NOV in the second quarter valued at approximately $35,000. CIBC Private Wealth Group LLC grew its position in NOV by 659.3% in the fourth 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 period. Rothschild Investment LLC increased its stake in NOV by 50.1% during 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 during the last quarter. Finally, Allworth Financial LP raised its position in NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 709 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Company Profile

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.