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

NOV Inc. (NYSE:NOV) has received a consensus recommendation of “Hold” from the eighteen brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.14.

Several research firms recently weighed in on NOV. ATB Capital reissued a “sector perform” rating and set a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Piper Sandler began coverage on NOV in a report on Thursday, December 19th. They set a “neutral” rating and a $17.00 price target for the company. Susquehanna lowered their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. cut their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Stifel Nicolaus decreased their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th.

Insider Activity

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.85% of the stock is owned by corporate insiders.

Institutional Trading of NOV

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Deprince Race & Zollo Inc. lifted its holdings in NOV by 1,194.1% during the 2nd 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 in the last quarter. WINTON GROUP Ltd lifted its stake in shares of NOV by 1,866.3% during 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 during the period. Barclays PLC boosted its holdings in NOV by 120.1% in the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after acquiring an additional 258,392 shares during the last quarter. International Assets Investment Management LLC increased its position in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 2,735 shares during the period. Finally, Bank of Montreal Can lifted its position in NOV by 519.1% during the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock valued at $7,000,000 after purchasing an additional 367,308 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 1.9 %

NOV stock opened at $14.60 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.23. The firm has a fifty day moving average price of $15.40 and a two-hundred day moving average price of $16.68. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of 5.39, a P/E/G ratio of 0.87 and a beta of 1.66.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 2.05%. NOV’s dividend payout ratio is currently 11.07%.

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.