NOV (NYSE:NOV) Price Target Cut to $19.00 by Analysts at Susquehanna

NOV (NYSE:NOV) had its target price lowered by Susquehanna from $21.00 to $19.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a positive rating on the oil and gas exploration company’s stock.

A number of other research firms also recently commented on NOV. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Monday, March 24th. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, NOV has a consensus rating of “Hold” and a consensus price target of $19.06.

NOV Stock Up 1.7 %

Shares of NYSE NOV opened at $12.04 on Monday. NOV has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 7.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business has a 50-day moving average of $14.45 and a two-hundred day moving average of $15.07.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, analysts forecast that NOV will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 18.63%.

Institutional Trading of NOV

Institutional investors have recently modified their holdings of the business. Huntington National Bank lifted its holdings in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd increased its holdings in shares of NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 1,655 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the period. Signaturefd LLC boosted its holdings in NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in NOV during the fourth quarter worth about $41,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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.