NOV (NYSE:NOV) Given New $13.00 Price Target at Barclays

NOV (NYSE:NOV) had its price target boosted by equities research analysts at Barclays from $12.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “underweight” rating on the oil and gas exploration company’s stock. Barclays‘s price target would suggest a potential downside of 16.45% from the stock’s current price.

Several other brokerages have also recently issued reports on NOV. Wells Fargo & Company decreased their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Susquehanna decreased their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Stifel Nicolaus decreased their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and dropped their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

NOV Stock Down 2.3 %

Shares of NOV stock opened at $15.56 on Tuesday. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.20. The firm has a market capitalization of $6.05 billion, a PE ratio of 9.66, a P/E/G ratio of 1.00 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.46. The stock’s 50-day simple moving average is $14.93 and its 200-day simple moving average is $15.93.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts expect that NOV will post 1.42 earnings per share for the current year.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On NOV

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted 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 valued at $32,000 after acquiring an additional 1,034 shares during the last quarter. Covestor Ltd boosted its holdings in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 1,655 shares during the last quarter. Quarry LP purchased a new stake in shares of NOV in the 3rd quarter valued at approximately $36,000. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the last quarter. Finally, Signaturefd LLC raised its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares during the period. Institutional investors and hedge funds 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.