Analysts Set NOV Inc. (NYSE:NOV) PT at $20.00

Shares of NOV Inc. (NYSE:NOV) have been given a consensus rating of “Hold” by the eighteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $19.47.

Several equities analysts recently weighed in on the company. Bank of America lowered their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. TD Cowen lowered their price objective on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th.

NOV Price Performance

NYSE NOV opened at $15.62 on Monday. The company has a market capitalization of $6.08 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The business’s fifty day moving average is $14.91 and its 200 day moving average is $16.13. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.20.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 10.82% and a net margin of 12.05%. Sell-side analysts predict that NOV will post 1.53 earnings per share for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.92%. NOV’s payout ratio is currently 11.07%.

Insiders Place Their Bets

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NOV

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in NOV during the third quarter worth approximately $36,000. UMB Bank n.a. grew its stake in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV during the fourth quarter valued at approximately $42,000. International Assets Investment Management LLC grew its stake in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 2,735 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of NOV during the third quarter valued at approximately $48,000. 93.27% of the stock is owned by institutional investors.

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.