TD Cowen Lowers NOV (NYSE:NOV) Price Target to $22.00

NOV (NYSE:NOV) had its target price decreased by stock analysts at TD Cowen from $28.00 to $22.00 in a research report issued on Monday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the oil and gas exploration company’s stock. TD Cowen’s price target would indicate a potential upside of 43.37% from the company’s previous close.

NOV has been the subject of several other research reports. BMO Capital Markets reduced their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $20.00 to $16.00 in a research report on Wednesday, September 25th. Morgan Stanley dropped 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. Susquehanna lowered their price target on shares of NOV from $26.00 to $22.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. Finally, Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $21.93.

NOV Trading Down 0.3 %

NYSE NOV opened at $15.35 on Monday. 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 has a market cap of $6.04 billion, a PE ratio of 5.66, a price-to-earnings-growth ratio of 0.91 and a beta of 1.67. The company has a 50 day moving average price of $16.40 and a 200 day moving average price of $17.76. NOV has a 52 week low of $14.98 and a 52 week high of $21.23.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Rothschild Investment LLC purchased a new stake in shares of NOV during the second quarter valued at approximately $28,000. American National Bank & Trust purchased a new stake in shares of NOV during the third quarter valued at approximately $39,000. International Assets Investment Management LLC raised its stake 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 purchasing an additional 2,735 shares during the period. Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV during the second quarter valued at approximately $78,000. Finally, Signaturefd LLC grew its position in shares of NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after buying an additional 1,792 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.