NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Moderate Buy” by Analysts

NOV Inc. (NYSE:NOV) has been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, three have issued a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $23.54.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of NOV in a research report on Friday, July 26th. Morgan Stanley reduced their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Barclays boosted their target price on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI raised shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th.

NOV Trading Down 0.4 %

NOV stock opened at $16.53 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. The company has a fifty day moving average price of $17.23 and a two-hundred day moving average price of $18.22. NOV has a one year low of $15.47 and a one year high of $21.53. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 6.64, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the business posted $0.39 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. Equities analysts anticipate that NOV will post 1.63 EPS for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 annualized dividend and a yield of 1.81%. NOV’s dividend payout ratio is 12.05%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NOV. Boston Partners acquired a new position in NOV during the first quarter worth about $119,686,000. Balyasny Asset Management L.P. raised its stake in NOV by 769.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after acquiring an additional 5,456,581 shares in the last quarter. Bank of New York Mellon Corp raised its stake in NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after acquiring an additional 3,989,095 shares in the last quarter. Pzena Investment Management LLC raised its stake in NOV by 12.7% during the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock worth $684,618,000 after acquiring an additional 3,946,504 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after acquiring an additional 3,470,860 shares in the last quarter. Institutional investors and hedge funds 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.