NOV’s (NOV) In-Line Rating Reaffirmed at Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of NOV (NYSE:NOV) in a research report released on Wednesday, MarketBeat reports. The firm currently has a $18.00 target price on the oil and gas exploration company’s stock, down from their prior target price of $25.00.

A number of other research firms have also recently commented on NOV. TD Cowen lowered their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Susquehanna dropped their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a research report on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Wells Fargo & Company decreased their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, NOV currently has an average rating of “Hold” and an average target price of $20.00.

NOV Stock Performance

Shares of NOV stock opened at $15.14 on Wednesday. The company has a market capitalization of $5.89 billion, a PE ratio of 5.59, a P/E/G ratio of 0.90 and a beta of 1.66. The company has a 50-day simple moving average of $15.32 and a two-hundred day simple moving average of $16.54. NOV has a one year low of $13.94 and a one year high of $21.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 1.98%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio (DPR) is 11.07%.

Insider Buying and Selling at NOV

In related news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of NOV during the 3rd quarter valued at about $36,000. American National Bank & Trust acquired a new stake in NOV in the third quarter valued at approximately $39,000. International Assets Investment Management LLC grew its holdings in 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 valued at $46,000 after purchasing an additional 2,735 shares during the period. Brooklyn Investment Group purchased a new stake in shares of NOV in the third quarter valued at approximately $48,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of NOV during the 2nd quarter worth approximately $78,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

About NOV

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.