NOV Inc. (NYSE:NOV) Receives Average Rating of “Hold” from Analysts

NOV Inc. (NYSE:NOV) has earned an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $24.07.

Several analysts recently weighed in on NOV shares. TD Cowen decreased their price objective on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, April 29th. Susquehanna restated a “positive” rating and issued a $26.00 price target on shares of NOV in a report on Monday, April 8th.

NOV Stock Performance

Shares of NYSE:NOV opened at $18.01 on Friday. The firm’s 50 day simple moving average is $18.44 and its 200-day simple moving average is $18.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. NOV has a one year low of $14.85 and a one year high of $21.91. The firm has a market cap of $7.12 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.32 EPS. NOV’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that NOV will post 1.56 EPS for the current year.

NOV Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 14th. This is an increase from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.67%. NOV’s dividend payout ratio is presently 12.05%.

Institutional Trading of NOV

A number of institutional investors have recently made changes to their positions in the business. Pzena Investment Management LLC raised its stake in NOV by 12.7% in the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock valued at $684,618,000 after buying an additional 3,946,504 shares during the last quarter. Balyasny Asset Management L.P. raised its position in shares of NOV by 769.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock valued at $125,048,000 after purchasing an additional 5,456,581 shares during the last quarter. Boston Partners acquired a new stake in NOV in the 1st quarter worth approximately $119,686,000. Van ECK Associates Corp grew its position in NOV by 4.2% during the 4th quarter. Van ECK Associates Corp now owns 5,687,556 shares of the oil and gas exploration company’s stock worth $115,343,000 after purchasing an additional 231,464 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in NOV by 4.5% during the 3rd quarter. Earnest Partners LLC now owns 4,143,782 shares of the oil and gas exploration company’s stock valued at $86,605,000 after purchasing an additional 178,375 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.