NOV (NYSE:NOV) Price Target Lowered to $15.00 at Wells Fargo & Company

NOV (NYSE:NOV) had its price objective dropped by Wells Fargo & Company from $16.00 to $15.00 in a report issued on Monday, Benzinga reports. The firm presently has an “underweight” rating on the oil and gas exploration company’s stock. Wells Fargo & Company‘s price objective indicates a potential downside of 2.53% from the stock’s current price.

NOV has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Monday, July 29th. Citigroup reduced their target price on shares of NOV from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Thursday, October 3rd. 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. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Benchmark restated a “hold” rating on shares of NOV in a research report on Friday, July 26th. 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.86.

NOV Stock Performance

Shares of NOV stock opened at $15.39 on Monday. NOV has a 12-month low of $14.98 and a 12-month high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $16.21 and a 200-day moving average of $17.66. The firm has a market cap of $5.99 billion, a P/E ratio of 5.68, a PEG ratio of 0.87 and a beta of 1.66.

Institutional Trading of NOV

Several large investors have recently modified their holdings of NOV. Norden Group LLC purchased a new stake in NOV in the first quarter worth $196,000. Janney Montgomery Scott LLC increased its position in shares of NOV by 41.6% during the first quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company’s stock valued at $375,000 after buying an additional 5,646 shares during the period. Texas Permanent School Fund Corp raised its stake in NOV by 2.5% in the first quarter. Texas Permanent School Fund Corp now owns 344,761 shares of the oil and gas exploration company’s stock worth $6,730,000 after buying an additional 8,398 shares in the last quarter. Duality Advisers LP purchased a new stake in NOV in the first quarter worth about $2,646,000. Finally, SG Americas Securities LLC boosted its position in NOV by 779.9% during the 1st quarter. SG Americas Securities LLC now owns 858,823 shares of the oil and gas exploration company’s stock valued at $16,764,000 after acquiring an additional 761,219 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.