NOV Inc. (NYSE:NOV) Given Average Recommendation of “Hold” by Brokerages

NOV Inc. (NYSE:NOV) has received a consensus rating of “Hold” from the seventeen research firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $20.64.

A number of research firms have recently issued reports on NOV. 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. Susquehanna lowered their target price on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Wells Fargo & Company decreased their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th.

NOV Stock Down 0.8 %

Shares of NYSE NOV opened at $14.97 on Friday. NOV has a 52-week low of $14.83 and a 52-week high of $21.23. The firm has a market capitalization of $5.82 billion, a price-to-earnings ratio of 5.52, a PEG ratio of 0.89 and a beta of 1.66. The stock has a 50 day moving average price of $15.84 and a 200 day moving average price of $17.10. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. NOV’s dividend payout ratio is currently 11.07%.

Insider Buying and Selling at NOV

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of large investors have recently bought and sold shares of the business. Rothschild Investment LLC acquired a new stake in shares of NOV in the second quarter valued at about $28,000. Quarry LP acquired a new stake in NOV in the 3rd quarter worth about $36,000. American National Bank & Trust acquired a new stake in NOV in the 3rd quarter worth about $39,000. International Assets Investment Management LLC raised its holdings in shares of NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of NOV in the third quarter valued at approximately $48,000. 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.