Brokerages Set NOV Inc. (NYSE:NOV) Price Target at $19.60

Shares of NOV Inc. (NYSE:NOV) have received a consensus recommendation of “Hold” from the eighteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $19.60.

Several equities analysts have weighed in on NOV shares. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Barclays raised their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Monday, March 24th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NOV. Mariner LLC increased its stake in NOV by 2.9% during the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock worth $353,000 after acquiring an additional 672 shares during the last quarter. Signaturefd LLC increased its position in 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. Huntington National Bank raised its holdings 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 valued at $32,000 after buying an additional 1,034 shares during the period. ProShare Advisors LLC lifted its position in NOV by 6.1% during the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock valued at $266,000 after buying an additional 1,042 shares in the last quarter. Finally, Coppell Advisory Solutions LLC grew its stake in NOV by 20.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company’s stock worth $106,000 after buying an additional 1,225 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Price Performance

Shares of NYSE:NOV opened at $15.26 on Tuesday. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business’s 50 day simple moving average is $14.99 and its 200-day simple moving average is $15.38. NOV has a 12 month low of $13.78 and a 12 month high of $21.20.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.97%. NOV’s dividend payout ratio is presently 18.63%.

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.