NOV (NYSE:NOV) Price Target Raised to $13.00 at Barclays

NOV (NYSE:NOV) had its target price lifted by Barclays from $12.00 to $13.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an underweight rating on the oil and gas exploration company’s stock.

Other equities research analysts also recently issued reports about the stock. Piper Sandler increased their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. TD Cowen reduced their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Stifel Nicolaus reduced their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Susquehanna reduced their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

Shares of NYSE:NOV opened at $15.48 on Tuesday. The firm has a market cap of $5.89 billion, a PE ratio of 9.61, a PEG ratio of 1.03 and a beta of 1.64. NOV has a 12-month low of $13.94 and a 12-month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $14.95 and its two-hundred day moving average price is $15.90.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities research analysts predict that NOV will post 1.4 earnings per share for the current year.

Institutional Investors Weigh In On NOV

Hedge funds have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its holdings in shares of NOV by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after purchasing an additional 56,665 shares during the period. Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares during the period. Barclays PLC lifted its holdings in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares during the period. International Assets Investment Management LLC lifted its stake in shares of NOV by 1,590.1% in the third 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. Finally, Bank of Montreal Can lifted its stake in shares of NOV by 519.1% in the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after acquiring an additional 367,308 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

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.