NOV Inc. (NYSE:NOV) Given Consensus Recommendation of “Hold” by Analysts

NOV Inc. (NYSE:NOV) has received an average rating of “Hold” from the eighteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.00.

Several equities research analysts recently weighed in on NOV shares. Wells Fargo & Company reduced their price target on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays cut their price objective on shares of NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, December 18th. Finally, Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th.

Insider Buying and Selling

In related news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NOV

Several hedge funds and other institutional investors have recently modified their holdings of NOV. Natixis Advisors LLC increased its position in NOV by 21.4% during the second quarter. Natixis Advisors LLC now owns 60,544 shares of the oil and gas exploration company’s stock valued at $1,151,000 after acquiring an additional 10,652 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of NOV by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 110,303 shares of the oil and gas exploration company’s stock worth $2,097,000 after purchasing an additional 2,043 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of NOV by 10.6% in the second quarter. Wedbush Securities Inc. now owns 13,692 shares of the oil and gas exploration company’s stock worth $260,000 after buying an additional 1,317 shares during the last quarter. Texas Permanent School Fund Corp grew its position in NOV by 4.5% during the second quarter. Texas Permanent School Fund Corp now owns 360,355 shares of the oil and gas exploration company’s stock valued at $6,850,000 after buying an additional 15,594 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in NOV by 41.4% during the second quarter. Oppenheimer Asset Management Inc. now owns 129,959 shares of the oil and gas exploration company’s stock valued at $2,471,000 after buying an additional 38,044 shares during the period. 93.27% of the stock is owned by institutional investors.

NOV Stock Up 1.7 %

NOV stock opened at $15.14 on Thursday. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.23. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of 5.59, a price-to-earnings-growth ratio of 0.90 and a beta of 1.66. The business’s 50 day moving average price is $15.35 and its two-hundred day moving average price is $16.55. 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.98%. NOV’s dividend payout ratio (DPR) is presently 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.