NOV (NYSE:NOV) Price Target Lowered to $23.00 at Stifel Nicolaus

NOV (NYSE:NOV) had its price objective cut by Stifel Nicolaus from $25.00 to $23.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the oil and gas exploration company’s stock.

Other research analysts have also recently issued research reports about the stock. Piper Sandler boosted their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. The Goldman Sachs Group dropped their price objective on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Barclays boosted their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Finally, Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $19.00.

NOV Stock Performance

Shares of NOV stock opened at $12.03 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV has a 52 week low of $10.84 and a 52 week high of $21.20. The firm has a fifty day moving average of $14.39 and a two-hundred day moving average of $15.05. The stock has a market capitalization of $4.58 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 1.02 and a beta of 1.35.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s payout ratio is 18.63%.

Institutional Trading of NOV

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank increased its position in shares of NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. Covestor Ltd increased its holdings in NOV by 282.9% during the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares during the last quarter. UMB Bank n.a. raised its position in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares in the last quarter. Signaturefd LLC lifted its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV in the 4th quarter valued at about $42,000. Institutional investors 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.