Brokerages Set NOV Inc. (NYSE:NOV) PT at $20.43

NOV Inc. (NYSE:NOV) has earned a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $20.50.

A number of research firms have recently issued reports on NOV. Royal Bank Of Canada boosted their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. Evercore raised shares of NOV to a “hold” rating in a report on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 price target on shares of NOV in a report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Finally, Barclays reaffirmed an “underweight” rating and set a $21.00 price objective (up from $20.00) on shares of NOV in a report on Thursday, May 7th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its holdings in shares of NOV by 15.6% during the 1st quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock valued at $756,000 after acquiring an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NOV by 35.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after buying an additional 42,462 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of NOV by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock valued at $16,168,000 after acquiring an additional 157,385 shares during the last quarter. Focus Partners Wealth purchased a new stake in shares of NOV in the first quarter worth about $214,000. Finally, Cetera Investment Advisers purchased a new position in NOV during the second quarter worth approximately $190,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Price Performance

NOV stock opened at $19.54 on Monday. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. NOV has a 52-week low of $11.77 and a 52-week high of $21.55. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 81.44 and a beta of 0.91. The firm’s fifty day moving average is $19.76 and its 200 day moving average is $19.18.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the company posted $0.19 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts forecast that NOV will post 0.9 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a dividend of $0.09 per share. This represents a dividend yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is presently 150.00%.

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.