NOV (NYSE:NOV) Price Target Raised to $13.00 at Barclays

NOV (NYSE:NOV) had its price target boosted by Barclays from $12.00 to $13.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an underweight rating on the oil and gas exploration company’s stock.

NOV has been the subject of a number of other research reports. Stifel Nicolaus dropped their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a report on Monday, October 28th. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Royal Bank of Canada boosted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

Shares of NYSE:NOV opened at $15.62 on Tuesday. 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 1-year low of $13.94 and a 1-year high of $21.20. The stock has a market capitalization of $6.08 billion, a P/E ratio of 9.70, a P/E/G ratio of 1.00 and a beta of 1.64. The business has a 50-day moving average price of $14.94 and a two-hundred day moving average price of $15.91.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts predict that NOV will post 1.42 earnings per share for the current year.

Institutional Trading of NOV

A number of institutional investors have recently made changes to their positions in NOV. Pacer Advisors Inc. increased its stake in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after buying an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC raised its holdings in NOV by 22.3% during 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 boosted its position in NOV by 23.1% during the third 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 last quarter. First Pacific Advisors LP bought a new position in NOV in the fourth quarter valued at approximately $39,495,000. Finally, Weiss Asset Management LP acquired a new position in shares of NOV during the 3rd quarter worth approximately $35,709,000. 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.