NOV (NYSE:NOV) PT Lowered to $21.00

NOV (NYSE:NOV) had its price target decreased by Susquehanna from $22.00 to $21.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas exploration company’s stock. Susquehanna’s price objective would indicate a potential upside of 36.85% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. BMO Capital Markets lowered their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th. Bank of America reduced their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays decreased their target price on shares of NOV from $20.00 to $17.00 and set an “underweight” rating on the stock in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NOV presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.93.

NOV Trading Down 0.3 %

Shares of NOV opened at $15.35 on Monday. The stock’s 50-day moving average price is $16.40 and its 200 day moving average price is $17.76. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 5.66, a P/E/G ratio of 0.91 and a beta of 1.67. NOV has a 12-month low of $14.98 and a 12-month high of $21.23.

Institutional Trading of NOV

Hedge funds and other institutional investors have recently made changes to their positions in the business. Innealta Capital LLC lifted its position in shares of NOV by 49.9% during the third quarter. Innealta Capital LLC now owns 15,448 shares of the oil and gas exploration company’s stock worth $247,000 after purchasing an additional 5,140 shares in the last quarter. Harbor Capital Advisors Inc. lifted its holdings in NOV by 176.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 524,781 shares of the oil and gas exploration company’s stock worth $8,381,000 after buying an additional 334,925 shares in the last quarter. HM Payson & Co. boosted its position in NOV by 2.1% in the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock valued at $783,000 after buying an additional 1,000 shares during the last quarter. Pinnacle Associates Ltd. increased its stake in shares of NOV by 27.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,838 shares of the oil and gas exploration company’s stock valued at $205,000 after buying an additional 2,788 shares during the period. Finally, New York State Teachers Retirement System increased its stake in shares of NOV by 1.3% in the 3rd quarter. New York State Teachers Retirement System now owns 528,038 shares of the oil and gas exploration company’s stock valued at $8,433,000 after buying an additional 6,554 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.