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

Shares of NOV Inc. (NYSE:NOV) have earned a consensus recommendation of “Hold” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $21.3077.

Several analysts have weighed in on the stock. Susquehanna boosted their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. 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 research note on Wednesday, April 29th. Barclays decreased their target price on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Morgan Stanley set a $21.00 price objective on shares of NOV in a report on Wednesday, July 15th. Finally, Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, June 4th.

Insider Activity at NOV

In other news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the sale, the director directly owned 126,763 shares in the company, valued at $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is owned by company insiders.

Institutional Trading of NOV

Institutional investors and hedge funds have recently modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in NOV during the 4th quarter worth approximately $28,000. Root Financial Partners LLC increased its stake in shares of NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 1,978 shares during the period. Rothschild Investment LLC raised its position in shares of NOV by 50.1% during the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after buying an additional 780 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of NOV in the 2nd quarter valued at $37,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Up 1.4%

NYSE:NOV opened at $21.00 on Friday. The company’s 50-day simple moving average is $19.55 and its 200-day simple moving average is $19.54. The stock has a market capitalization of $7.49 billion, a P/E ratio of 80.77 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. NOV has a fifty-two week low of $11.90 and a fifty-two week high of $21.55.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, equities analysts anticipate that NOV will post 0.94 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.09 per share. The ex-dividend date was Friday, June 12th. This represents a dividend yield of 170.0%. NOV’s dividend payout ratio (DPR) is 138.46%.

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.