NOV (NYSE:NOV) Given New $16.00 Price Target at Barclays

NOV (NYSE:NOV) had its price target cut by Barclays from $17.00 to $16.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have an underweight rating on the oil and gas exploration company’s stock.

NOV has been the subject of a number of other research reports. Benchmark restated a “hold” rating on shares of NOV in a research report on Friday, July 26th. Bank of America reduced their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna lowered their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. Finally, TD Cowen decreased their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NOV currently has an average rating of “Moderate Buy” and an average price target of $21.93.

NOV Trading Down 0.3 %

Shares of NOV stock opened at $15.35 on Tuesday. NOV has a 1-year low of $14.98 and a 1-year high of $21.23. The company’s fifty day simple moving average is $16.40 and its 200-day simple moving average is $17.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The stock has a market capitalization of $6.04 billion, a PE ratio of 5.66, a P/E/G ratio of 0.91 and a beta of 1.67.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.075 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.96%. NOV’s dividend payout ratio is currently 11.07%.

Hedge Funds Weigh In On NOV

Institutional investors have recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in shares of NOV during the 2nd quarter valued at approximately $28,000. American National Bank & Trust bought a new position in NOV during the third quarter valued at $39,000. International Assets Investment Management LLC grew its stake in shares of NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of NOV in the 2nd quarter worth about $78,000. Finally, Signaturefd LLC raised its position in shares of NOV by 67.6% during the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after buying an additional 1,792 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About NOV

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.