NOV Inc. (NYSE:NOV) Receives Consensus Rating of “Hold” from Analysts

Shares of NOV Inc. (NYSE:NOV) have been given a consensus rating of “Hold” by the fifteen ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.36.

Several research firms recently weighed in on NOV. Benchmark cut shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. ATB Capital set a $33.00 price objective on shares of NOV and gave the stock an “outperform” rating in a research note on Friday, December 22nd. Stifel Nicolaus dropped their price objective on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research note on Tuesday, February 6th.

Insider Activity at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. CENTRAL TRUST Co increased its position in NOV by 85.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 580 shares during the period. Covestor Ltd increased its position in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after purchasing an additional 625 shares during the period. Rise Advisors LLC purchased a new position in NOV during the 1st quarter valued at about $26,000. Acadian Asset Management LLC purchased a new position in NOV during the 1st quarter valued at about $34,000. Finally, Riverview Trust Co purchased a new position in NOV during the 1st quarter valued at about $39,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV opened at $19.63 on Tuesday. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 7.82, a PEG ratio of 0.37 and a beta of 1.74. The company has a fifty day moving average of $18.30 and a 200 day moving average of $19.26. NOV has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40.

NOV (NYSE:NOV) last posted its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.41 by $1.10. The company had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. NOV’s quarterly revenue was up 13.0% on a year-over-year basis. During the same period last year, the company posted $0.26 earnings per share. As a group, sell-side analysts forecast that NOV will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.02%. NOV’s payout ratio is 7.97%.

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.