NOV (NYSE:NOV) Raised to “Strong-Buy” at Evercore ISI

Evercore ISI upgraded shares of NOV (NYSE:NOV) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

Several other research analysts have also weighed in on NOV. Susquehanna reiterated a positive rating and issued a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Bank of America dropped their price objective on shares of NOV from $24.00 to $22.00 and set a buy rating on the stock in a research note on Monday, July 15th. Benchmark reiterated a hold rating on shares of NOV in a research note on Friday. Piper Sandler dropped their price target on shares of NOV from $22.00 to $20.00 and set a neutral rating on the stock in a research note on Monday, July 15th. Finally, TD Cowen increased their price target on shares of NOV from $27.00 to $28.00 and gave the stock a buy rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $24.21.

NOV Stock Performance

NOV stock opened at $19.81 on Friday. The firm’s 50 day simple moving average is $18.39 and its 200-day simple moving average is $18.61. The company has a market cap of $7.84 billion, a P/E ratio of 7.96, a price-to-earnings-growth 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. NOV has a fifty-two week low of $16.77 and a fifty-two week high of $21.91.

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

NOV Increases Dividend

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

Institutional Trading of NOV

Several large investors have recently modified their holdings of the company. Rise Advisors LLC bought a new stake in NOV in the 1st quarter valued at $26,000. Riverview Trust Co bought a new stake in NOV in the 1st quarter valued at $39,000. GAMMA Investing LLC bought a new stake in NOV in the 4th quarter valued at $61,000. International Assets Investment Management LLC boosted 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 valued at $71,000 after purchasing an additional 3,240 shares during the period. Finally, SYSTM Wealth Solutions LLC bought a new stake in NOV in the 1st quarter valued at $78,000. 93.27% of the stock is owned by institutional investors.

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.