NOV (NYSE:NOV) Hits New 52-Week Low – Should You Sell?

NOV Inc. (NYSE:NOV)’s share price hit a new 52-week low on Thursday . The company traded as low as $13.77 and last traded at $13.84, with a volume of 1216145 shares changing hands. The stock had previously closed at $15.30.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Raymond James upped their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Piper Sandler lifted their price target on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Performance

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 company has a market cap of $4.54 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. The stock has a 50-day moving average price of $14.91 and a 200 day moving average price of $15.34.

NOV (NYSE:NOV) last announced its earnings results 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%. As a group, analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, March 14th. NOV’s payout ratio is presently 18.63%.

Institutional Trading of NOV

Several hedge funds and other institutional investors have recently modified their holdings of NOV. Mariner LLC boosted its position 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 buying an additional 672 shares during the period. Signaturefd LLC boosted its position in NOV by 41.3% during the 4th 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. Huntington National Bank grew its stake in shares of 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 in the last quarter. ProShare Advisors LLC raised its holdings in shares of NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock valued at $266,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of NOV by 20.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company’s stock worth $106,000 after purchasing an additional 1,225 shares in the last quarter. 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.