NOV Inc. (NYSE:NOV) Receives $21.64 Consensus Price Target from Analysts

NOV Inc. (NYSE:NOV) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.64.

NOV has been the subject of a number of recent research reports. Susquehanna dropped their price objective on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus cut their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company decreased their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a report on Monday, November 11th. Finally, BMO Capital Markets decreased their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a report on Thursday, October 10th.

NOV Stock Performance

Shares of NOV opened at $16.61 on Wednesday. The company has a 50-day moving average of $16.05 and a two-hundred day moving average of $17.42. The stock has a market cap of $6.46 billion, a P/E ratio of 6.13, a PEG ratio of 0.95 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV has a 12-month low of $14.98 and a 12-month high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.81%. NOV’s dividend payout ratio (DPR) is 11.07%.

Insider Activity at NOV

In related news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.85% of the company’s stock.

Institutional Trading of NOV

Several large investors have recently modified their holdings of NOV. Stanley Laman Group Ltd. purchased a new stake in NOV during the 2nd quarter worth approximately $4,031,000. Deprince Race & Zollo Inc. increased its stake in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after buying an additional 1,574,188 shares during the last quarter. WINTON GROUP Ltd raised its holdings in NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after acquiring an additional 798,303 shares in the last quarter. Canandaigua National Bank & Trust Co. acquired a new position in NOV during the 2nd quarter worth $1,100,000. Finally, Boston Partners bought a new stake in shares of NOV in the 1st quarter worth about $119,686,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.