Shares of NOV Inc. (NYSE:NOV – Get Free Report) have been given a consensus rating of “Hold” by the seventeen analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $20.5714.
NOV has been the subject of several recent analyst reports. Citigroup increased their target price on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Royal Bank Of Canada increased their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Evercore upgraded NOV to a “hold” rating in a research note on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research note on Friday, March 27th. Finally, Susquehanna upped their price target on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th.
Check Out Our Latest Stock Analysis on NOV
NOV Stock Performance
NOV (NYSE:NOV – Get Free Report) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.19 EPS. Analysts anticipate that NOV will post 0.9 earnings per share for the current fiscal year.
NOV Announces Dividend
The firm also recently declared a special dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 12th. This represents a yield of 170.0%. NOV’s dividend payout ratio is 150.00%.
Institutional Investors Weigh In On NOV
A number of large investors have recently bought and sold shares of NOV. Monaco Asset Management SAM bought a new position in shares of NOV in the third quarter worth about $4,969,000. American Century Companies Inc. increased its stake in shares of NOV by 43.6% in the 3rd 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 buying an additional 2,304,975 shares during the period. Citigroup Inc. increased its stake in shares of NOV by 32.1% in the 3rd quarter. Citigroup Inc. now owns 357,529 shares of the oil and gas exploration company’s stock valued at $4,737,000 after buying an additional 86,854 shares during the period. Crossmark Global Holdings Inc. increased its stake in shares of NOV by 203.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock valued at $1,343,000 after buying an additional 57,634 shares during the period. Finally, Oldfield Partners LLP increased its stake in shares of NOV by 5.8% in the 4th quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock valued at $78,859,000 after buying an additional 276,961 shares during the period. 93.27% of the stock is currently owned by institutional investors.
NOV Company Profile
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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