NOV Inc. (NYSE:NOV) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of NOV Inc. (NYSE:NOV) have earned a consensus recommendation of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $19.60.

NOV has been the topic of several recent research reports. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Raymond James lifted their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday.

NOV Price Performance

NYSE NOV opened at $15.13 on Tuesday. NOV has a 52 week low of $13.78 and a 52 week high of $21.20. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 9.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a 50-day moving average price of $14.99 and a two-hundred day moving average price of $15.41. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts forecast that NOV will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.98%. NOV’s payout ratio is 18.63%.

Institutional Investors Weigh In On NOV

Several institutional investors and hedge funds have recently bought and sold shares of the business. Huntington National Bank raised its position in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd boosted its stake in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 1,655 shares in the last quarter. UMB Bank n.a. grew its position in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP acquired a new stake in shares of NOV in the 3rd quarter valued at $36,000. Finally, Signaturefd LLC increased its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 756 shares in the last quarter. 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.