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

Shares of NOV Inc. (NYSE:NOV) have been assigned an average rating of “Hold” from the sixteen research firms that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.9231.

Several equities analysts have issued reports on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $17.00 price target on shares of NOV in a report on Tuesday, October 28th. Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Barclays increased their price target on NOV from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research note on Monday, December 29th. Finally, Piper Sandler increased their price objective 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.

Insider Buying and Selling at NOV

In related news, Director Christian S. Kendall acquired 70,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were purchased at an average cost 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 of the company’s stock, valued at $1,242,822.54. This represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.08% of the stock is owned by company insiders.

Institutional Trading of NOV

Several large investors have recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new position in shares of NOV in the second quarter valued at about $35,000. UMB Bank n.a. increased its holdings 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 worth $41,000 after buying an additional 1,657 shares during the period. Hantz Financial Services Inc. increased its holdings 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 worth $45,000 after buying an additional 2,921 shares during the period. 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, Mirae Asset Global Investments Co. Ltd. lifted its stake in NOV by 123.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock valued at $67,000 after acquiring an additional 2,975 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $18.00 on Monday. NOV has a one year low of $10.84 and a one year high of $18.22. The firm has a market cap of $6.57 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 4.78 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. The firm has a 50-day simple moving average of $16.01 and a two-hundred day simple moving average of $14.19.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was down .7% compared to the same quarter last year. On average, equities analysts forecast that NOV will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were issued a $0.075 dividend. 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 1.7%. NOV’s dividend payout ratio (DPR) 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.