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

NOV (NYSE:NOV) had its price objective lowered by Stifel Nicolaus from $25.00 to $23.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the oil and gas exploration company’s stock.

NOV has been the topic of several other research reports. Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research note on Monday, March 24th. Susquehanna cut their price objective on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research report on Monday. Piper Sandler upped their price target on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. The Goldman Sachs Group decreased their price objective on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Finally, Barclays upped 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $19.00.

NOV Price Performance

Shares of NOV stock opened at $12.03 on Tuesday. NOV has a 1-year low of $10.84 and a 1-year high of $21.20. The firm has a fifty day simple moving average of $14.39 and a 200-day simple moving average of $15.05. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. 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 issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) 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%. On average, sell-side analysts expect that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.49%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Hedge Funds Weigh In On NOV

Institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. grew its holdings in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares during the last quarter. First Pacific Advisors LP acquired a new position in shares of NOV during the fourth quarter worth approximately $39,495,000. Dimensional Fund Advisors LP increased its holdings in shares of NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock valued at $245,178,000 after purchasing an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC raised its position in NOV by 85.9% in the 4th quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company’s stock worth $55,248,000 after purchasing an additional 1,748,816 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in NOV by 40.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock worth $83,489,000 after buying an additional 1,652,917 shares in the last quarter. 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.