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

NOV Inc. (NYSE:NOV) has been assigned an average recommendation of “Hold” from the seventeen research firms that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $20.64.

NOV has been the topic of several recent research reports. TD Cowen lowered their target price on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Morgan Stanley lowered their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, BMO Capital Markets cut their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th.

NOV Stock Performance

NOV opened at $14.97 on Friday. The firm has a market capitalization of $5.82 billion, a PE ratio of 5.52, a PEG ratio of 0.89 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $14.83 and a twelve month high of $21.23. The firm’s 50-day moving average price is $15.84 and its 200 day moving average price is $17.10.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 2.00%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Insiders Place Their Bets

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.85% of the stock is owned by insiders.

Institutional Trading of NOV

Several hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 70.7% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,631 shares of the oil and gas exploration company’s stock worth $335,000 after buying an additional 7,303 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in NOV by 7.1% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,960 shares of the oil and gas exploration company’s stock valued at $360,000 after purchasing an additional 1,261 shares during the period. TCW Group Inc. grew its stake in NOV by 59.6% during the 2nd quarter. TCW Group Inc. now owns 112,201 shares of the oil and gas exploration company’s stock worth $2,133,000 after purchasing an additional 41,890 shares in the last quarter. Raymond James & Associates increased its holdings in NOV by 3.1% during the 2nd quarter. Raymond James & Associates now owns 248,230 shares of the oil and gas exploration company’s stock worth $4,719,000 after purchasing an additional 7,506 shares during the period. Finally, Hennion & Walsh Asset Management Inc. acquired a new stake in NOV in the 2nd quarter valued at about $270,000. Institutional investors and hedge funds 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.