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

Shares of NOV Inc. (NYSE:NOV) have been given a consensus recommendation of “Hold” by the sixteen analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, nine have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $21.23.

NOV has been the subject of a number of research reports. Zacks Research downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 26th. Susquehanna lifted their price objective on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research report on Thursday, July 30th. Morgan Stanley set a $21.00 target price on NOV in a report on Wednesday, July 15th. Barclays decreased their target price on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Finally, TD Cowen raised their target price on NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th.

Insider Buying and Selling

In other news, Director David Harrison sold 9,594 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the sale, the director owned 126,763 shares in the company, valued at approximately $2,435,117.23. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in NOV during the second quarter valued at $697,976,000. Pzena Investment Management LLC purchased a new stake in shares of NOV in the second quarter worth $674,776,000. Bank of America Corp DE bought a new position in shares of NOV during the second quarter valued at $77,520,000. Bank of New York Mellon Corp purchased a new position in shares of NOV in the 2nd quarter worth about $54,767,000. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of NOV in the 2nd quarter worth about $29,165,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NYSE:NOV opened at $18.81 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $20.37 and its 200 day simple moving average is $19.89. The stock has a market cap of $6.70 billion, a P/E ratio of 72.33 and a beta of 0.97. NOV has a twelve month low of $12.28 and a twelve month high of $21.93.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. NOV had a net margin of 1.10% and a return on equity of 3.44%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the business earned $0.29 EPS. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts predict that NOV will post 0.99 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were issued a $0.09 dividend. The ex-dividend date was Friday, September 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. NOV’s dividend payout ratio is 138.46%.

About NOV

NOV Inc is a global provider of equipment, technologies and services used in the oil and gas industry and related energy markets. The company supplies products for drilling, well construction, completion, production and maintenance activities across the energy value chain.

NOV’s offerings include land and offshore drilling rigs, rig equipment, hoisting systems, top drives, mud pumps, drill bits, downhole tools, wellbore technologies, completion equipment and production systems. Its technologies are used by exploration and production companies, drilling contractors and oilfield service providers in onshore and offshore operations.

The company serves customers in major energy-producing regions around the world, including North America, South America, Europe, the Middle East, Africa and Asia-Pacific.