NOV (NYSE:NOV) PT Lowered to $22.00

NOV (NYSE:NOV) had its price objective lowered by research analysts at Susquehanna from $26.00 to $22.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “positive” rating on the oil and gas exploration company’s stock. Susquehanna’s target price would suggest a potential upside of 34.23% from the stock’s current price.

NOV has been the topic of several other research reports. Bank of America reduced their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. BMO Capital Markets reduced their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday. Wells Fargo & Company downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $16.00 in a research report on Wednesday, September 25th. Morgan Stanley cut their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Barclays upped their target price on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NOV currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.93.

NOV Stock Up 1.3 %

Shares of NYSE:NOV opened at $16.39 on Friday. NOV has a 52 week low of $15.47 and a 52 week high of $21.53. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The company’s fifty day moving average is $16.93 and its 200-day moving average is $18.14. The company has a market capitalization of $6.48 billion, a PE ratio of 6.58, a P/E/G ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 EPS. Equities research analysts predict that NOV will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NOV

Several hedge funds have recently made changes to their positions in the business. Diversified Trust Co acquired a new stake in shares of NOV in the 3rd quarter valued at approximately $595,000. SG Americas Securities LLC increased its position in NOV by 34.0% during the 3rd quarter. SG Americas Securities LLC now owns 376,197 shares of the oil and gas exploration company’s stock worth $6,008,000 after buying an additional 95,468 shares during the period. American National Bank & Trust bought a new position in shares of NOV in the third quarter worth $39,000. Greenhaven Associates Inc. increased its position in shares of NOV by 13.1% in the third quarter. Greenhaven Associates Inc. now owns 2,035,376 shares of the oil and gas exploration company’s stock worth $32,505,000 after purchasing an additional 236,400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of NOV in the second quarter worth $125,000. 93.27% of the stock is owned by institutional investors.

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.