NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have been assigned an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $24.00.

A number of brokerages have recently commented on NOV. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Barclays lifted their target price on NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Bank of America cut their price target on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler decreased their price target on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Benchmark restated a “hold” rating on shares of NOV in a research report on Friday, July 26th.

NOV Trading Down 0.1 %

NYSE:NOV opened at $15.96 on Tuesday. The company has a market capitalization of $6.31 billion, a PE ratio of 6.41, a P/E/G ratio of 0.50 and a beta of 1.67. NOV has a 52-week low of $15.47 and a 52-week high of $21.53. The stock’s 50 day moving average price is $17.50 and its 200 day moving average price is $18.31. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last announced 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 net margin of 11.88% and a return on equity of 10.97%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that NOV will post 1.63 EPS for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, September 13th. NOV’s dividend payout ratio is currently 12.05%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. US Bancorp DE grew its holdings in NOV by 5.1% in the fourth quarter. US Bancorp DE now owns 32,786 shares of the oil and gas exploration company’s stock valued at $665,000 after purchasing an additional 1,584 shares during the last quarter. Hsbc Holdings PLC increased its holdings in NOV by 8.7% during the 4th quarter. Hsbc Holdings PLC now owns 72,397 shares of the oil and gas exploration company’s stock valued at $1,475,000 after acquiring an additional 5,801 shares in the last quarter. TD Asset Management Inc raised its position in NOV by 79.7% during the fourth quarter. TD Asset Management Inc now owns 86,278 shares of the oil and gas exploration company’s stock worth $1,750,000 after acquiring an additional 38,278 shares during the last quarter. Treasurer of the State of North Carolina raised its position in NOV by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 173,988 shares of the oil and gas exploration company’s stock worth $3,528,000 after acquiring an additional 1,700 shares during the last quarter. Finally, TFO Wealth Partners LLC lifted its holdings in shares of NOV by 47,585.7% in the fourth quarter. TFO Wealth Partners LLC now owns 10,014 shares of the oil and gas exploration company’s stock valued at $203,000 after purchasing an additional 9,993 shares in the last quarter. 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.