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

Shares of NOV Inc. (NYSE:NOV) have been given a consensus rating of “Hold” by the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $20.14.

NOV has been the subject of a number of research analyst reports. Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus cut their target price on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Morgan Stanley lowered their price target on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. ATB Capital restated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th.

NOV Stock Performance

NOV stock opened at $14.60 on Thursday. The company has a 50-day simple moving average of $15.40 and a 200 day simple moving average of $16.68. The company has a market capitalization of $5.68 billion, a P/E ratio of 5.39, a PEG 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. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.23.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.05%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Insider Activity at NOV

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

Institutional Trading of NOV

Hedge funds and other institutional investors have recently modified their holdings of the company. Natixis Advisors LLC lifted its stake in NOV by 21.4% in the second quarter. Natixis Advisors LLC now owns 60,544 shares of the oil and gas exploration company’s stock valued at $1,151,000 after acquiring an additional 10,652 shares during the last quarter. Arizona State Retirement System increased its position in NOV by 1.9% during the second quarter. Arizona State Retirement System now owns 110,303 shares of the oil and gas exploration company’s stock worth $2,097,000 after buying an additional 2,043 shares during the last quarter. Wedbush Securities Inc. raised its holdings in NOV by 10.6% during the second quarter. Wedbush Securities Inc. now owns 13,692 shares of the oil and gas exploration company’s stock valued at $260,000 after buying an additional 1,317 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in shares of NOV by 4.5% in the second quarter. Texas Permanent School Fund Corp now owns 360,355 shares of the oil and gas exploration company’s stock worth $6,850,000 after buying an additional 15,594 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of NOV by 41.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 129,959 shares of the oil and gas exploration company’s stock worth $2,471,000 after acquiring an additional 38,044 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.