NOV Inc. (NYSE:NOV) Receives $24.21 Consensus Price Target from Analysts

Shares of NOV Inc. (NYSE:NOVGet Free Report) have been assigned a consensus rating of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $24.36.

NOV has been the topic of a number of recent analyst reports. ATB Capital set a $33.00 target price on NOV and gave the stock an “outperform” rating in a report on Friday, December 22nd. TD Cowen reduced their price objective on shares of NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Stifel Nicolaus dropped their price objective on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Raymond James reduced their target price on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Finally, Piper Sandler lowered their price target on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday.

View Our Latest Report on NOV

NOV Price Performance

Shares of NOV opened at $17.27 on Monday. The company has a current ratio of 2.40, a quick ratio of 1.51 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $19.33 and its 200 day simple moving average is $19.79. NOV has a 1-year low of $14.05 and a 1-year high of $23.29. The company has a market cap of $6.80 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.31 and a beta of 1.77.

NOV (NYSE:NOVGet Free Report) last issued its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the prior year, the firm earned $0.26 EPS. NOV’s quarterly revenue was up 13.0% compared to the same quarter last year. On average, research analysts forecast that NOV will post 1.58 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.16%. NOV’s payout ratio is 7.97%.

Institutional Trading of NOV

A number of institutional investors and hedge funds have recently made changes to their positions in NOV. Pzena Investment Management LLC raised its position in NOV by 24.6% during the second quarter. Pzena Investment Management LLC now owns 36,790,723 shares of the oil and gas exploration company’s stock valued at $590,123,000 after purchasing an additional 7,259,286 shares in the last quarter. Balyasny Asset Management L.P. boosted its holdings in shares of NOV by 769.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock valued at $125,048,000 after purchasing an additional 5,456,581 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of NOV by 29.8% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 23,376,075 shares of the oil and gas exploration company’s stock valued at $374,952,000 after purchasing an additional 5,365,090 shares during the last quarter. FMR LLC raised its holdings in shares of NOV by 30.9% during the 3rd quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after buying an additional 4,369,540 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of NOV by 48.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock worth $246,962,000 after buying an additional 3,843,096 shares during the last quarter. Institutional investors own 93.19% of the company’s stock.

NOV Company Profile

(Get Free Report

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

Further Reading

Analyst Recommendations for NOV (NYSE:NOV)

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