NOV (NYSE:NOV) PT Lowered to $22.00 at Susquehanna

NOV (NYSE:NOV) had its price objective cut by Susquehanna from $26.00 to $22.00 in a research report report published on Friday morning, Benzinga reports. They currently have a positive rating on the oil and gas exploration company’s stock.

NOV has been the subject of several other reports. Citigroup decreased their target price on shares of NOV from $24.00 to $21.00 and set a buy rating for the company in a report on Thursday, October 3rd. Bank of America lowered their price objective on shares of NOV from $24.00 to $22.00 and set a buy rating on the stock in a research report on Monday, July 15th. Morgan Stanley reduced their target price on NOV from $25.00 to $23.00 and set an overweight rating for the company in a report on Monday, September 16th. Wells Fargo & Company downgraded NOV from an equal weight rating to an underweight rating and lowered their price target for the company from $20.00 to $16.00 in a report on Wednesday, September 25th. Finally, Barclays increased their price objective on NOV from $17.00 to $20.00 and gave the stock an underweight rating in a research note on Tuesday, July 30th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, NOV currently has a consensus rating of Moderate Buy and a consensus price target of $22.93.

NOV Trading Up 1.3 %

NOV stock opened at $16.39 on Friday. The firm has a market cap of $6.48 billion, a price-to-earnings ratio of 6.58, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. NOV has a 1 year low of $15.47 and a 1 year high of $21.53. The firm’s 50 day moving average price is $16.93 and its two-hundred day moving average price is $18.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61.

NOV (NYSE:NOV) last issued its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm posted $0.39 EPS. The company’s quarterly revenue was up 5.9% on a year-over-year basis. On average, research analysts predict that NOV will post 1.64 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s payout ratio is 12.05%.

Institutional Trading of NOV

Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners bought a new position in shares of NOV in the 1st quarter valued at approximately $119,686,000. Bank of New York Mellon Corp raised its position in shares of NOV by 67.2% in the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after purchasing an additional 3,989,095 shares during the period. Pzena Investment Management LLC lifted its stake in shares of NOV by 12.7% in the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock worth $684,618,000 after buying an additional 3,946,504 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after buying an additional 3,470,860 shares during the period. Finally, AQR Capital Management LLC grew its stake in NOV by 232.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after buying an additional 3,418,885 shares during the last quarter. 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.