NOV (NYSE:NOV) Stock Price Expected to Rise, Piper Sandler Analyst Says

NOV (NYSE:NOV) had its price objective upped by Piper Sandler from $17.00 to $18.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas exploration company’s stock.

Other research analysts have also recently issued research reports about the stock. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 28th. Barclays reduced their target price on shares of NOV from $16.00 to $12.00 and set an “underweight” rating for the company in a report on Wednesday, December 18th. Evercore ISI reissued an “in-line” rating and set a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Royal Bank of Canada raised their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.53.

NOV Trading Down 1.8 %

NYSE:NOV opened at $16.00 on Monday. NOV has a 12 month low of $13.94 and a 12 month high of $21.20. The firm has a fifty day simple moving average of $14.91 and a 200-day simple moving average of $16.05. The company has a current ratio of 2.46, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $6.23 billion, a P/E ratio of 9.94, a PEG ratio of 1.00 and a beta of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities research analysts anticipate that NOV will post 1.42 earnings per share for the current year.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.85% of the company’s stock.

Institutional Trading of NOV

Institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank increased its stake in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. UMB Bank n.a. increased its stake in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP purchased a new stake in shares of NOV during the third quarter worth about $36,000. Signaturefd LLC boosted its position in NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares during the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in NOV during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Company Profile

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.