Stifel Nicolaus Trims NOV (NYSE:NOV) Target Price to $25.00

NOV (NYSE:NOV) had its price objective trimmed by Stifel Nicolaus from $26.00 to $25.00 in a research note released on Friday, Benzinga reports. The firm currently has a buy rating on the oil and gas exploration company’s stock.

Several other analysts have also recently weighed in on the company. TD Cowen boosted their price objective on NOV from $27.00 to $28.00 and gave the stock a buy rating in a report on Monday, July 29th. Evercore ISI raised NOV to a strong-buy rating in a report on Friday, July 26th. BMO Capital Markets dropped their price objective on NOV from $22.00 to $20.00 and set a market perform rating for the company in a report on Thursday. Benchmark reaffirmed a hold rating on shares of NOV in a research note on Friday, July 26th. Finally, Wells Fargo & Company cut NOV from an equal weight rating to an underweight rating and lowered their price target for the company from $20.00 to $16.00 in a research note on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $22.93.

NOV Stock Up 1.3 %

Shares of NYSE NOV opened at $16.39 on Friday. The firm’s 50-day simple moving average is $16.93 and its 200 day simple moving average is $18.15. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 6.14, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. NOV has a 12-month low of $15.47 and a 12-month high of $21.53.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. The business 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 quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. On average, research analysts expect that NOV will post 1.64 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.83%. NOV’s dividend payout ratio is presently 11.24%.

Hedge Funds Weigh In On NOV

Several institutional investors and hedge funds have recently modified their holdings of the business. Rise Advisors LLC acquired a new position in NOV during the 1st quarter worth approximately $26,000. Rothschild Investment LLC acquired a new position in NOV during the 2nd quarter worth approximately $28,000. Riverview Trust Co acquired a new position in NOV during the 1st quarter worth approximately $39,000. American National Bank & Trust acquired a new position in NOV during the 3rd quarter worth approximately $39,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in NOV during the 2nd quarter worth approximately $78,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.