NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Hold” by Brokerages

Shares of NOV Inc. (NYSE:NOV) have earned an average recommendation of “Hold” from the fifteen brokerages that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $15.8333.

A number of brokerages have issued reports on NOV. Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Morgan Stanley set a $16.00 price objective on shares of NOV in a report on Monday, December 15th. Piper Sandler raised their price target on shares of NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. The Goldman Sachs Group boosted their price target on shares of NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research note on Monday.

Insider Buying and Selling at NOV

In other news, Director Christian S. Kendall bought 70,000 shares of NOV stock in a transaction that occurred on Friday, November 21st. The shares were purchased at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the acquisition, the director directly owned 85,949 shares in the company, valued at $1,242,822.54. The trade was a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.08% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of institutional investors and hedge funds have recently modified their holdings of the company. CoreFirst Bank & Trust purchased a new position in shares of NOV in the 2nd quarter valued at approximately $35,000. UMB Bank n.a. grew its position in NOV by 114.1% in the 3rd quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,657 shares during the last quarter. Hantz Financial Services Inc. grew its position in NOV by 395.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 2,921 shares during the last quarter. Signaturefd LLC raised its position in NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 931 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of NOV by 119.7% in the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 1,856 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Down 0.8%

Shares of NYSE NOV opened at $15.61 on Thursday. The company has a quick ratio of 1.71, a current ratio of 2.55 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $15.14 and its two-hundred day moving average is $13.77. NOV has a 52-week low of $10.84 and a 52-week high of $16.96. The firm has a market cap of $5.69 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 5.22 and a beta of 0.97.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. During the same period last year, the firm earned $0.33 earnings per share. NOV’s revenue was down .7% on a year-over-year basis. Research analysts predict that NOV will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. NOV’s payout ratio is currently 30.00%.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.