NOV Inc. (NYSE:NOV – Get Free Report) has been given an average rating of “Hold” by the seventeen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $19.3571.
Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a report on Friday, March 27th. Susquehanna upped their target price on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Citigroup upped their target price on NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Stifel Nicolaus upped their target price on NOV from $21.00 to $23.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Royal Bank Of Canada increased their price objective on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th.
Check Out Our Latest Report on NOV
NOV Stock Performance
NOV (NYSE:NOV – Get Free Report) last released its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 earnings per share. As a group, sell-side analysts expect that NOV will post 0.91 earnings per share for the current year.
NOV Dividend Announcement
The company also recently disclosed a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a dividend of $0.09 per share. This represents a yield of 173.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV’s dividend payout ratio is 150.00%.
Hedge Funds Weigh In On NOV
Several institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC grew its holdings in NOV by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock valued at $235,000 after purchasing an additional 541 shares during the period. Altshuler Shaham Ltd increased its stake in shares of NOV by 36.8% in the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 546 shares in the last quarter. Root Financial Partners LLC increased its stake in shares of NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 552 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of NOV by 0.7% in the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock worth $1,632,000 after purchasing an additional 600 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of NOV by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock worth $115,000 after purchasing an additional 611 shares in the last quarter. 93.27% of the stock is owned by institutional investors.
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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