Benchmark Reaffirms Hold Rating for NOV (NYSE:NOV)

Benchmark restated their hold rating on shares of NOV (NYSE:NOV) in a research report sent to investors on Friday, Benzinga reports.

Other analysts have also issued research reports about the company. TD Cowen decreased their price objective on NOV from $27.00 to $26.00 and set a buy rating for the company in a report on Monday, April 29th. Bank of America decreased their price target on NOV from $24.00 to $22.00 and set a buy rating for the company in a research note on Monday, July 15th. Piper Sandler dropped their price target on NOV from $22.00 to $20.00 and set a neutral rating on the stock in a research note on Monday, July 15th. Finally, Susquehanna reiterated a positive rating and issued a $26.00 target price on shares of NOV in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, NOV has a consensus rating of Hold and an average target price of $24.21.

NOV Trading Down 0.2 %

NOV opened at $19.81 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. The firm has a market cap of $7.84 billion, a price-to-earnings ratio of 7.96, a PEG ratio of 0.62 and a beta of 1.71. NOV has a 12 month low of $16.77 and a 12 month high of $21.91. The stock has a fifty day moving average price of $18.39 and a 200-day moving average price of $18.61.

NOV (NYSE:NOV) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The business had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm’s revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, equities research analysts anticipate that NOV will post 1.55 earnings per share for the current fiscal year.

NOV Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, June 14th. This is an increase from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.51%. NOV’s payout ratio is presently 12.05%.

Hedge Funds Weigh In On NOV

Several institutional investors have recently made changes to their positions in NOV. Rise Advisors LLC purchased a new stake in NOV during the first quarter worth $26,000. Riverview Trust Co purchased a new stake in shares of NOV during the 1st quarter worth about $39,000. GAMMA Investing LLC acquired a new stake in shares of NOV during the 4th quarter valued at about $61,000. International Assets Investment Management LLC increased its stake in shares of NOV by 1,306.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 3,240 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC acquired a new position in NOV in the 1st quarter worth about $78,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

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.