NOV Inc. (NYSE:NOV) Receives Consensus Rating of “Hold” from Brokerages

NOV Inc. (NYSE:NOV) has been given a consensus rating of “Hold” by the eighteen analysts that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $19.60.

Several equities research analysts recently commented on the stock. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and cut their price target for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays upped their price target 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. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Piper Sandler increased their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th.

Institutional Trading of NOV

Several hedge funds have recently made changes to their positions in the business. Pacer Advisors Inc. lifted its holdings in NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after buying an additional 12,210,514 shares in the last quarter. Pzena Investment Management LLC increased its position in shares of NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after acquiring an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares in the last quarter. First Pacific Advisors LP purchased a new position in NOV in the fourth quarter valued at $39,495,000. Finally, Weiss Asset Management LP acquired a new position in NOV during the 3rd quarter worth $35,709,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

NYSE:NOV opened at $14.32 on Friday. 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 50 day moving average price of $15.00 and a 200-day moving average price of $15.70. NOV has a 1-year low of $13.77 and a 1-year high of $21.20. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 8.90, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities research analysts forecast that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

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.