Piper Sandler Increases NOV (NYSE:NOV) Price Target to $18.00

NOV (NYSE:NOV) had its target price boosted by Piper Sandler from $17.00 to $18.00 in a report published on Monday,Benzinga reports. The firm currently has a neutral rating on the oil and gas exploration company’s stock.

Several other brokerages have also commented on NOV. Raymond James boosted their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Barclays cut their target price on shares of NOV from $16.00 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Bank of America dropped their price target on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Stifel Nicolaus lowered their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $19.53.

NOV Stock Performance

NYSE NOV opened at $15.95 on Monday. The business’s 50-day moving average price is $14.90 and its 200 day moving average price is $16.08. NOV has a 52-week low of $13.94 and a 52-week high of $21.20. The firm has a market cap of $6.21 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.00 and a beta of 1.64. The company has a quick ratio of 1.65, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities research analysts expect that NOV will post 1.42 earnings per share for the current year.

NOV Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 1.88%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Insiders Place Their Bets

In other NOV news, Director David D. Harrison sold 1,784 shares of the firm’s 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 completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by company insiders.

Hedge Funds Weigh In On NOV

Several large investors have recently modified their holdings of the stock. Quarry LP acquired a new stake in NOV during the third quarter valued at approximately $36,000. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the last quarter. Signaturefd LLC raised its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV in the fourth quarter worth $42,000. Finally, International Assets Investment Management LLC grew its position in shares of NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 2,735 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

About NOV

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.