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NOV (NYSE:NOV) was downgraded by COKER & PALMER from a “sector outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, reports.

Several other brokerages also recently commented on NOV. Wolfe Research raised shares of NOV from a “peer perform” rating to an “outperform” rating in a report on Monday, January 11th. Zacks Investment Research cut NOV from a “hold” rating to a “sell” rating and set a $18.00 target price for the company. in a research report on Thursday, March 11th. Smith Barney Citigroup raised NOV from a “neutral” rating to a “buy” rating in a report on Tuesday, January 12th. Bank of America raised NOV from an “underperform” rating to a “neutral” rating and set a $16.00 price objective for the company in a report on Wednesday, January 6th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of NOV from a “neutral” rating to a “buy” rating and raised their target price for the company from $15.00 to $18.00 in a research note on Tuesday, January 12th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.09.

Shares of NOV opened at $13.61 on Tuesday. NOV has a 52-week low of $7.70 and a 52-week high of $17.50. The stock’s 50-day simple moving average is $15.01 and its 200 day simple moving average is $12.78. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.93 and a current ratio of 2.85. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of -2.02 and a beta of 2.22.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, February 4th. The oil and gas exploration company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.30). The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.33 billion. NOV had a positive return on equity of 1.13% and a negative net margin of 36.63%. On average, research analysts forecast that NOV will post -0.09 earnings per share for the current fiscal year.

In other news, VP Scott K. Duff sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $14.81, for a total value of $148,100.00. Company insiders own 0.92% of the company’s stock.

A number of large investors have recently modified their holdings of NOV. Berman Capital Advisors LLC lifted its stake in NOV by 108.6% in the fourth quarter. Berman Capital Advisors LLC now owns 2,380 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,239 shares during the last quarter. AXA S.A. bought a new position in shares of NOV during the third quarter valued at about $104,000. IBM Retirement Fund increased its holdings in shares of NOV by 7.4% in the fourth quarter. IBM Retirement Fund now owns 13,542 shares of the oil and gas exploration company’s stock worth $186,000 after buying an additional 936 shares during the period. TIAA FSB bought a new stake in shares of NOV in the 4th quarter valued at about $287,000. Finally, Louisiana State Employees Retirement System boosted its holdings in NOV by 22.3% during the 4th quarter. Louisiana State Employees Retirement System now owns 24,100 shares of the oil and gas exploration company’s stock valued at $331,000 after acquiring an additional 4,400 shares during the period. Institutional investors own 94.50% of the company’s stock.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for use in oil and gas drilling and production, and industrial and renewable energy sectors worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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Analyst Recommendations for NOV (NYSE:NOV)

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