NOV (NYSE:NOV) Given New $18.00 Price Target at Piper Sandler

NOV (NYSE:NOV) had its price objective upped by Piper Sandler from $17.00 to $18.00 in a research report released on Monday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas exploration company’s stock.

A number of other research analysts have also issued reports on NOV. Wells Fargo & Company decreased their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Stifel Nicolaus dropped their price target 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, Susquehanna lowered their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.53.

NOV Stock Up 2.1 %

Shares of NOV stock opened at $15.95 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV has a twelve month low of $13.94 and a twelve month high of $21.20. The stock has a 50 day moving average of $14.90 and a 200 day moving average of $16.08. The stock has a market cap of $6.21 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.00 and a beta of 1.64.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, sell-side analysts expect that NOV will post 1.42 EPS for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.88%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Insider Buying and Selling

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NOV

Several large investors have recently bought and sold shares of the business. UMB Bank n.a. increased its stake in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the last quarter. Quarry LP purchased a new position in shares of NOV in the 3rd quarter valued at $36,000. Signaturefd LLC raised its stake in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in NOV in the fourth quarter valued at $42,000. Finally, R Squared Ltd purchased a new position in shares of NOV during the fourth quarter worth about $44,000. Hedge funds and other institutional investors 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.