NOV (NYSE:NOV) Reaches New 52-Week Low – Should You Sell?

NOV Inc. (NYSE:NOV) shares hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $13.77 and last traded at $13.84, with a volume of 1216145 shares. The stock had previously closed at $15.30.

Analysts Set New Price Targets

NOV has been the subject of several research reports. Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research report on Monday, March 24th. ATB Capital reiterated a “sector perform” rating and set a $19.00 target price 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 research report on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Piper Sandler boosted their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, NOV has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Stock Down 12.1 %

The firm’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $15.38. 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 company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 8.39, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34.

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

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued 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 yield of 2.23%. NOV’s dividend payout ratio (DPR) is currently 18.63%.

Institutional Trading of NOV

Several institutional investors and hedge funds have recently modified their holdings of NOV. Harbor Capital Advisors Inc. lifted its stake in NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after buying an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. raised its stake in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. Barclays PLC lifted its holdings in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Weiss Asset Management LP acquired a new stake in shares of NOV during the 3rd quarter worth about $35,709,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the last quarter. Hedge funds and other 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.