NOV (NYSE:NOV) Price Target Raised to $18.00

NOV (NYSE:NOV) had its target price raised by Piper Sandler from $17.00 to $18.00 in a report published on Monday,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other brokerages have also commented on NOV. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Royal Bank of Canada raised their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Bank of America reduced their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Raymond James raised their target price on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Barclays reduced their target price on shares of NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.53.

NOV Stock Performance

NOV stock opened at $16.00 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.65. NOV has a 1-year low of $13.94 and a 1-year high of $21.20. The firm has a market capitalization of $6.23 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64. The company’s 50-day moving average is $14.91 and its 200 day moving average is $16.05.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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%. Research analysts forecast that NOV will post 1.42 EPS for the current year.

Insider Activity

In other NOV news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Investors Weigh In On NOV

Institutional investors have recently bought and sold shares of the company. Huntington National Bank boosted its stake in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 1,034 shares in the last quarter. UMB Bank n.a. boosted its stake in NOV by 222.3% in 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 acquiring an additional 1,612 shares in the last quarter. Quarry LP acquired a new stake in NOV in the third quarter valued at approximately $36,000. Signaturefd LLC boosted its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new stake in NOV in the fourth quarter valued at approximately $41,000. 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.