NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of NOV Inc. (NYSE:NOV) have earned an average recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $21.64.

NOV has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Benchmark reissued a “hold” rating on shares of NOV in a report on Friday, July 26th. Wells Fargo & Company cut their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. BMO Capital Markets decreased their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research note on Monday, July 29th.

Hedge Funds Weigh In On NOV

Hedge funds have recently modified their holdings of the stock. Pzena Investment Management LLC increased its position in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after acquiring an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after purchasing an additional 6,963,660 shares during the period. Boston Partners acquired a new stake in NOV during the 1st quarter valued at $119,686,000. Bank of New York Mellon Corp lifted its holdings in shares of NOV by 67.2% in the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after purchasing an additional 3,989,095 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after buying an additional 3,470,860 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Trading Down 0.1 %

NYSE:NOV opened at $15.99 on Wednesday. The firm has a market capitalization of $6.22 billion, a P/E ratio of 5.90, a P/E/G ratio of 0.93 and a beta of 1.66. The business has a 50 day simple moving average of $16.02 and a 200 day simple moving average of $17.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV has a 12-month low of $14.98 and a 12-month high of $21.23.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, December 6th. NOV’s payout ratio is 11.07%.

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.