NOV (NYSE:NOV) Price Target Raised to $13.00

NOV (NYSE:NOV) had its price objective lifted by Barclays from $12.00 to $13.00 in a research report released on Tuesday,Benzinga reports. They currently have an underweight rating on the oil and gas exploration company’s stock.

A number of other brokerages have also issued reports on NOV. Piper Sandler lifted their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Raymond James lifted their price target on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.60.

NOV Stock Up 1.3 %

NOV stock opened at $15.48 on Tuesday. The company has a 50 day moving average of $14.95 and a 200-day moving average of $15.90. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $13.94 and a twelve month high of $21.20. The stock has a market capitalization of $5.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.64.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities research analysts anticipate that NOV will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On NOV

Several institutional investors and hedge funds have recently modified their holdings of NOV. Blue Trust Inc. grew its stake in NOV by 851.1% in the 3rd quarter. Blue Trust Inc. now owns 5,859 shares of the oil and gas exploration company’s stock valued at $94,000 after buying an additional 5,243 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of NOV by 3.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,113,452 shares of the oil and gas exploration company’s stock valued at $49,722,000 after purchasing an additional 91,013 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in shares of NOV in the third quarter valued at approximately $217,000. Stanley Laman Group Ltd. grew its position in shares of NOV by 19.9% in the third quarter. Stanley Laman Group Ltd. now owns 254,118 shares of the oil and gas exploration company’s stock valued at $4,058,000 after purchasing an additional 42,092 shares during the last quarter. Finally, Narwhal Capital Management grew its position in shares of NOV by 23.6% in the third quarter. Narwhal Capital Management now owns 281,449 shares of the oil and gas exploration company’s stock valued at $4,495,000 after purchasing an additional 53,691 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.