NOV (NYSE:NOV) Receives “Hold” Rating from Benchmark

Benchmark reiterated their hold rating on shares of NOV (NYSE:NOV) in a research note published on Friday morning, Benzinga reports.

Several other equities research analysts have also recently commented on NOV. Bank of America dropped their target price on shares of NOV from $24.00 to $22.00 and set a buy rating for the company in a research report on Monday, July 15th. Piper Sandler cut their price objective on NOV from $22.00 to $20.00 and set a neutral rating on the stock in a research report on Monday, July 15th. TD Cowen decreased their target price on NOV from $27.00 to $26.00 and set a buy rating for the company in a research report on Monday, April 29th. Finally, Susquehanna restated a positive rating and set a $26.00 price target on shares of NOV in a research report on Monday, April 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, NOV currently has an average rating of Hold and an average target price of $24.21.

NOV Stock Down 0.2 %

NYSE NOV opened at $19.81 on Friday. NOV has a 1 year low of $16.77 and a 1 year high of $21.91. The stock has a market capitalization of $7.84 billion, a PE ratio of 7.96, a PEG ratio of 0.62 and a beta of 1.71. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. The business’s 50-day moving average is $18.39 and its 200 day moving average is $18.61.

NOV (NYSE:NOV) last posted its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $0.39 earnings per share. The business’s revenue was up 5.9% compared to the same quarter last year. Sell-side analysts forecast that NOV will post 1.55 earnings per share for the current year.

NOV Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.075 dividend. The ex-dividend date was Friday, June 14th. This is a boost from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.51%. NOV’s payout ratio is 12.05%.

Institutional Investors Weigh In On NOV

Institutional investors and hedge funds have recently made changes to their positions in the company. Rise Advisors LLC bought a new position in NOV in the 1st quarter valued at approximately $26,000. Riverview Trust Co bought a new position in shares of NOV during the first quarter valued at $39,000. GAMMA Investing LLC purchased a new stake in shares of NOV during the fourth quarter valued at $61,000. International Assets Investment Management LLC increased its holdings in NOV by 1,306.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 3,240 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC purchased a new position in NOV in the 1st quarter worth about $78,000. 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.