NOV Inc. (NYSE:NOV – Get Free Report) has been assigned a consensus rating of “Hold” from the seventeen brokerages that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $19.2857.
Several research firms have weighed in on NOV. Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. TD Cowen raised NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Stifel Nicolaus increased their target price on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. The Goldman Sachs Group increased their target price on NOV from $17.00 to $20.00 and gave the stock a “sell” rating in a research report on Wednesday, March 4th. Finally, Evercore upgraded NOV to a “hold” rating in a research note on Wednesday, April 29th.
Read Our Latest Research Report on NOV
Insider Buying and Selling at NOV
Hedge Funds Weigh In On NOV
A number of institutional investors and hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in NOV by 1,743.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock valued at $79,080,000 after purchasing an additional 4,785,015 shares in the last quarter. Ameriprise Financial Inc. lifted its position in NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after purchasing an additional 2,534,815 shares in the last quarter. American Century Companies Inc. raised its holdings in NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock valued at $100,654,000 after acquiring an additional 2,304,975 shares during the period. Goldman Sachs Group Inc. raised its holdings in NOV by 76.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company’s stock valued at $42,545,000 after acquiring an additional 1,178,838 shares during the period. Finally, Marshall Wace LLP bought a new stake in NOV during the third quarter valued at about $14,114,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
NOV Price Performance
NOV opened at $20.13 on Wednesday. The stock has a 50-day moving average price of $19.41 and a 200-day moving average price of $17.50. NOV has a 12-month low of $11.65 and a 12-month high of $20.93. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $7.22 billion, a P/E ratio of 83.87 and a beta of 0.92.
NOV (NYSE:NOV – Get Free Report) last posted its quarterly earnings data on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. NOV’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts predict that NOV will post 0.93 earnings per share for the current fiscal year.
NOV Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, March 13th. This represents a $0.36 annualized dividend and a yield of 1.8%. This is a positive change from NOV’s previous quarterly dividend of $0.08. NOV’s dividend payout ratio (DPR) is 150.00%.
About NOV
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.
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