NOV (NYSE:NOV) Sets New 1-Year Low at $16.17

NOV Inc. (NYSE:NOV)’s stock price reached a new 52-week low on Tuesday . The stock traded as low as $16.17 and last traded at $16.19, with a volume of 36339 shares changing hands. The stock had previously closed at $16.23.

Analysts Set New Price Targets

Several analysts have weighed in on the company. TD Cowen raised their price target on NOV from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Bank of America lowered their price target on NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Benchmark reaffirmed a “hold” rating on shares of NOV in a report on Friday, July 26th. Finally, Piper Sandler lowered their price target on NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, NOV currently has an average rating of “Moderate Buy” and an average price target of $24.58.

NOV Trading Up 0.1 %

The firm has a 50-day moving average of $18.10 and a 200-day moving average of $18.41. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The firm has a market capitalization of $6.25 billion, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 0.49 and a beta of 1.67.

NOV (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the company earned $0.39 EPS. NOV’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, equities research analysts anticipate that NOV Inc. will post 1.63 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.30 annualized dividend and a yield of 1.89%. NOV’s payout ratio is 12.05%.

Institutional Investors Weigh In On NOV

A number of large investors have recently made changes to their positions in NOV. Rise Advisors LLC bought a new stake in shares of NOV in the 1st quarter worth approximately $26,000. Rothschild Investment LLC bought a new stake in shares of NOV in the 2nd quarter worth approximately $28,000. Riverview Trust Co bought a new stake in shares of NOV in the 1st quarter worth approximately $39,000. SYSTM Wealth Solutions LLC bought a new stake in shares of NOV in the 1st quarter worth approximately $78,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of NOV in the 2nd quarter worth approximately $78,000. 93.27% of the stock is currently owned by institutional investors.

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.