NOV Inc. (NYSE:NOV) Given the consensus recommendation of “moderate buy” by the brokerage

Shares of NOV Inc. (NYSE:NOV – Get Your Free Report ) has received an average recommendation of “Moderate Buy” from the fourteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $24.00.

A number of brokerages have recently commented on NOV. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Barclays lifted their price target on NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Bank of America cut their price target on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Piper Sandler cut their price target on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Benchmark restated a “hold” rating on shares of NOV in a research report on Friday, July 26th.

Check out our latest NOV review

NOV trading down 0.1%

NYSE:NOV opened at $15.96 on Tuesday. The company has a market cap of $6.31 billion, a PE ratio of 6.41, a P/E/G ratio of 0.50 and a beta of 1.67. NOV has a 52 week low of $15.47 and a 52 week high of $21.53. The stock’s 50-day moving average price is $17.50 and its 200-day moving average price is $18.31. The company has a quick ratio of 1.64, a current ratio of 2.61, and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV – Get Your Free Report ) last announced its earnings results on Thursday, July 25th. The oil and natural gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.19 billion. In the same period last year, the firm posted earnings of $0.39 per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, research analysts anticipate that NOV will post 1.63 EPS for the current year.

Dividend announcement NOV

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.075 per share. This represents a dividend of $0.30 on an annualized basis and a yield of 1.88%. The ex-dividend date was Friday, September 13. NOV’s dividend payout ratio is currently 12.05%.

Institutional inputs and outputs

Several institutional investors and hedge funds have recently added to or reduced their stakes in NOV. US Bancorp DE boosted its holdings in NOV by 5.1% in the fourth quarter. US Bancorp DE now owns 32,786 shares of the oil and gas exploration company’s stock valued at $665,000 after buying an additional 1,584 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in NOV by 8.7% in the 4th quarter. Hsbc Holdings PLC now owns 72,397 shares of the oil and gas exploration company’s stock valued at $1,475,000 after acquiring an additional 5,801 shares in the last quarter. TD Asset Management Inc raised its position in NOV by 79.7% during the fourth quarter. TD Asset Management Inc now owns 86,278 shares of the oil and gas exploration company’s stock worth $1,750,000 after purchasing an additional 38,278 shares during the last quarter. State Treasurer State of North Carolina grew its position in NOV by 1.0% in the fourth quarter. State Treasurer State of North Carolina now owns 173,988 shares of the oil and gas exploration company’s stock worth $3,528,000 after purchasing an additional 1,700 shares in the last quarter. Finally, TFO Wealth Partners LLC boosted its holdings in shares of NOV by 47,585.7% in the fourth quarter. TFO Wealth Partners LLC now owns 10,014 shares of the oil and gas exploration company’s stock valued at $203,000 after purchasing an additional 9,993 shares in the last quarter. 93.27% of the shares are currently owned by institutional investors and hedge funds.

NOV Company profile

(Get a free report

NOV Inc designs, builds, manufactures and sells systems, components and products for the 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 offers solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drill pipe, wireline pipe, well optimization services, inspection and casing services, tools, tools drill and drill.

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