NOV Inc. (NYSE:NOV) Given Average Recommendation of “Hold” by Brokerages

NOV Inc. (NYSE:NOV) has earned a consensus recommendation of “Hold” from the eighteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $19.60.

Several analysts have issued reports on NOV shares. Raymond James upped their price target on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Monday, March 24th.

NOV Price Performance

Shares of NYSE NOV opened at $14.96 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business has a 50-day moving average of $15.00 and a 200-day moving average of $15.39. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.02 and a beta of 1.66. NOV has a fifty-two week low of $13.78 and a fifty-two week high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, sell-side analysts predict that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Institutional Trading of NOV

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mariner LLC increased its holdings in shares of NOV by 2.9% during the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock worth $353,000 after purchasing an additional 672 shares during the period. Signaturefd LLC grew 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 buying an additional 756 shares in the last quarter. Huntington National Bank increased its stake in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 1,034 shares during the period. ProShare Advisors LLC raised its holdings in NOV by 6.1% in the 4th quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock valued at $266,000 after acquiring an additional 1,042 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of NOV by 20.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company’s stock valued at $106,000 after acquiring an additional 1,225 shares during the period. Institutional investors and hedge funds 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.