NOV (NYSE:NOV) Research Coverage Started at Piper Sandler

Piper Sandler initiated coverage on shares of NOV (NYSE:NOV) in a report released on Thursday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $17.00 price objective on the oil and gas exploration company’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Susquehanna reduced their price objective on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. TD Cowen decreased their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Morgan Stanley dropped their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NOV currently has a consensus rating of “Hold” and a consensus price target of $20.14.

NOV Price Performance

NYSE NOV opened at $14.07 on Thursday. The company has a market cap of $5.47 billion, a PE ratio of 5.19, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. 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’s 50-day simple moving average is $15.65 and its two-hundred day simple moving average is $16.98. NOV has a 52 week low of $13.97 and a 52 week high of $21.23.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.13%. NOV’s dividend payout ratio is currently 11.07%.

Insider Activity

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were 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 in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rothschild Investment LLC purchased a new position in shares of NOV in the 2nd quarter valued at about $28,000. Quarry LP acquired a new stake in NOV in the third quarter valued at approximately $36,000. American National Bank & Trust purchased a new position in NOV in the third quarter worth approximately $39,000. International Assets Investment Management LLC grew its holdings in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of NOV in the 3rd quarter valued at approximately $48,000. 93.27% of the stock is 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.