NOV Inc. (NYSE:NOV) Receives Average Rating of “Hold” from Brokerages

NOV Inc. (NYSE:NOV) has received a consensus recommendation of “Hold” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $19.60.

A number of equities analysts recently commented on NOV shares. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Royal Bank of Canada boosted their target price on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. Finally, Raymond James boosted their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th.

NOV Trading Up 0.5 %

NOV opened at $15.02 on Friday. NOV has a 52 week low of $13.94 and a 52 week high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $15.00 and a 200-day simple moving average of $15.81. The firm has a market cap of $5.72 billion, a P/E ratio of 9.33, a P/E/G ratio of 1.02 and a beta of 1.64.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating 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%. On average, equities analysts expect that NOV will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.00%. NOV’s payout ratio is currently 18.63%.

Institutional Investors Weigh In On NOV

A number of large investors have recently added to or reduced their stakes in NOV. Pzena Investment Management LLC boosted its stake in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of NOV by 23.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after purchasing an additional 6,963,660 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after acquiring an additional 1,934,243 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of NOV by 12,344.0% during the fourth 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. Finally, Geode Capital Management LLC increased its holdings in shares of NOV by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company’s stock valued at $97,815,000 after purchasing an additional 302,009 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

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.