Analysts Set NOV Inc. (NYSE:NOV) Target Price at $19.60

NOV Inc. (NYSE:NOV) has received an average rating of “Hold” from the eighteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $19.60.

A number of analysts have recently weighed in on NOV shares. ATB Capital reissued a “sector perform” rating and set a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th.

NOV Stock Performance

NOV stock opened at $15.26 on Tuesday. The firm has a market capitalization of $5.81 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. NOV has a one year low of $13.78 and a one year high of $21.20. The stock’s 50 day moving average price is $14.99 and its 200 day moving average price is $15.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

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, topping analysts’ consensus estimates 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, sell-side analysts expect that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 18.63%.

Institutional Trading of NOV

Several hedge funds have recently added to or reduced their stakes in NOV. Pacer Advisors Inc. increased its holdings in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after purchasing an additional 12,210,514 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in NOV by 23.1% in the 3rd 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 buying an additional 6,963,660 shares in the last quarter. First Pacific Advisors LP acquired a new position in NOV during the 4th quarter valued at about $39,495,000. Weiss Asset Management LP bought a new stake in shares of NOV during the 3rd quarter worth about $35,709,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of NOV by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after acquiring an additional 1,934,243 shares during the period. Institutional investors own 93.27% of the company’s stock.

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.