NOV (NYSE:NOV) PT Lowered to $24.00

NOV (NYSE:NOV) had its price target decreased by analysts at Stifel Nicolaus from $25.00 to $24.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas exploration company’s stock. Stifel Nicolaus’ target price suggests a potential upside of 56.40% from the company’s previous close.

A number of other brokerages also recently issued reports on NOV. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Citigroup decreased their target price on NOV from $24.00 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Bank of America reduced their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Finally, Morgan Stanley decreased their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NOV presently has an average rating of “Moderate Buy” and a consensus target price of $21.93.

NOV Stock Performance

NYSE NOV opened at $15.35 on Monday. The business has a 50-day moving average price of $16.40 and a 200-day moving average price of $17.76. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 5.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.67. NOV has a twelve month low of $14.98 and a twelve month high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

Institutional Trading of NOV

Institutional investors and hedge funds have recently made changes to their positions in the business. Park Avenue Securities LLC increased its stake in NOV by 7.5% in the 1st quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock worth $332,000 after buying an additional 1,194 shares during the period. Allspring Global Investments Holdings LLC grew its stake in NOV by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,883,885 shares of the oil and gas exploration company’s stock worth $75,813,000 after acquiring an additional 42,717 shares in the last quarter. State of Michigan Retirement System increased its position in shares of NOV by 2.4% during the first quarter. State of Michigan Retirement System now owns 96,777 shares of the oil and gas exploration company’s stock worth $1,889,000 after acquiring an additional 2,300 shares during the period. Norden Group LLC bought a new stake in shares of NOV during the first quarter valued at approximately $196,000. Finally, Retirement Systems of Alabama boosted its holdings in shares of NOV by 5.0% in the first quarter. Retirement Systems of Alabama now owns 968,972 shares of the oil and gas exploration company’s stock valued at $18,914,000 after purchasing an additional 45,798 shares during the period. 93.27% of the stock is currently owned by 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.