NOV (NYSE:NOV) Shares Gap Up – Still a Buy?

Shares of NOV Inc. (NYSE:NOV) gapped up before the market opened on Friday . The stock had previously closed at $15.26, but opened at $15.95. NOV shares last traded at $15.80, with a volume of 887,469 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOV shares. BMO Capital Markets decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Barclays decreased their price target on NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley dropped their price objective on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus decreased their target price on NOV from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Benchmark reiterated a “hold” rating on shares of NOV in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

NOV Stock Performance

The firm’s 50-day moving average price is $16.54 and its two-hundred day moving average price is $17.89. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $6.35 billion, a PE ratio of 6.06, a P/E/G ratio of 0.89 and a beta of 1.67.

NOV (NYSE:NOV) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas exploration company reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $2.19 billion for the quarter, compared to analysts’ expectations of $2.23 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. As a group, research analysts predict that NOV Inc. will post 1.6 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.86%. NOV’s payout ratio is presently 11.24%.

Hedge Funds Weigh In On NOV

Large investors have recently made changes to their positions in the business. Rothschild Investment LLC purchased a new position in NOV during the second quarter valued at approximately $28,000. American National Bank & Trust acquired a new stake in shares of NOV during the 3rd quarter valued at $39,000. International Assets Investment Management LLC grew its holdings in shares of NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares in the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of NOV in the second quarter worth $78,000. Finally, Signaturefd LLC raised its holdings in shares of NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after acquiring an additional 1,792 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

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.