NOV (NYSE:NOV) Price Target Cut to $25.00 by Analysts at Stifel Nicolaus

NOV (NYSE:NOV) had its price objective reduced by Stifel Nicolaus from $26.00 to $25.00 in a research note published on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the oil and gas exploration company’s stock.

A number of other research analysts have also issued reports on the stock. Bank of America dropped their price objective on shares of NOV from $24.00 to $22.00 and set a buy rating for the company in a report on Monday, July 15th. Susquehanna reduced their price target on shares of NOV from $26.00 to $22.00 and set a positive rating for the company in a report on Friday. BMO Capital Markets dropped their price objective on shares of NOV from $22.00 to $20.00 and set a market perform rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. reduced their target price on NOV from $23.00 to $22.00 and set an overweight rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen upped their price target on NOV from $27.00 to $28.00 and gave the stock a buy rating in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NOV has a consensus rating of Moderate Buy and an average target price of $22.79.

NOV Trading Down 1.3 %

Shares of NOV stock opened at $16.19 on Friday. NOV has a fifty-two week low of $15.47 and a fifty-two week high of $21.53. The stock’s fifty day moving average price is $16.90 and its two-hundred day moving average price is $18.11. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The company has a market cap of $6.40 billion, a PE ratio of 6.50, a P/E/G ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last issued its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.35 by $0.22. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. Equities analysts predict that NOV will post 1.64 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s payout ratio is currently 12.05%.

Institutional Investors Weigh In On NOV

A number of institutional investors have recently added to or reduced their stakes in the company. Diversified Trust Co purchased a new position in shares of NOV in the 3rd quarter worth approximately $595,000. SG Americas Securities LLC lifted its holdings in NOV by 34.0% during the third quarter. SG Americas Securities LLC now owns 376,197 shares of the oil and gas exploration company’s stock worth $6,008,000 after acquiring an additional 95,468 shares during the period. American National Bank & Trust purchased a new position in NOV in the third quarter worth $39,000. Greenhaven Associates Inc. grew its stake in NOV by 13.1% in the 3rd quarter. Greenhaven Associates Inc. now owns 2,035,376 shares of the oil and gas exploration company’s stock valued at $32,505,000 after purchasing an additional 236,400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of NOV during the 2nd quarter valued at $125,000. 93.27% of the stock is owned by 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.