NOV Inc. (NYSE:NOV) Receives Consensus Recommendation of “Moderate Buy” from Analysts

NOV Inc. (NYSE:NOV) has been assigned an average rating of “Moderate Buy” from the sixteen analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $21.93.

Several analysts recently weighed in on NOV shares. Barclays reduced their target price on shares of NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. lowered 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. Susquehanna cut their price target on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Bank of America decreased their target price on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, Morgan Stanley dropped their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th.

Hedge Funds Weigh In On NOV

A number of large investors have recently bought and sold shares of NOV. Rothschild Investment LLC acquired a new position in shares of NOV during the 2nd quarter worth $28,000. American National Bank & Trust purchased a new position in shares of NOV during the third quarter valued at approximately $39,000. International Assets Investment Management LLC grew its stake in NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in NOV in the 2nd quarter valued at $78,000. Finally, Signaturefd LLC lifted its stake in shares of NOV by 67.6% during the 2nd quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after purchasing an additional 1,792 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 2.1 %

NYSE:NOV opened at $15.19 on Friday. NOV has a 12-month low of $14.98 and a 12-month high of $21.23. The firm has a market cap of $5.91 billion, a PE ratio of 5.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.67. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $16.26 and a 200 day moving average price of $17.70.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Friday, September 13th. NOV’s 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.