NOV (NYSE:NOV) Rating Reiterated by Benchmark

NOV (NYSE:NOV)‘s stock had its “hold” rating reaffirmed by equities researchers at Benchmark in a research note issued on Friday, Benzinga reports.

Several other analysts have also recently commented on NOV. Piper Sandler dropped their price target on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Susquehanna reaffirmed a “positive” rating and set a $26.00 target price on shares of NOV in a report on Monday, April 8th. Bank of America reduced their target price on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Finally, TD Cowen lowered their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, NOV has an average rating of “Hold” and a consensus target price of $24.07.

NOV Stock Performance

NOV stock traded up $1.09 during midday trading on Friday, hitting $19.76. 6,838,120 shares of the company were exchanged, compared to its average volume of 3,707,456. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. The firm has a market capitalization of $7.82 billion, a PE ratio of 7.90, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. The business has a fifty day simple moving average of $18.36 and a two-hundred day simple moving average of $18.62. NOV has a fifty-two week low of $16.77 and a fifty-two week high of $21.91.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.22. NOV had a return on equity of 10.21% and a net margin of 11.23%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the previous year, the business earned $0.39 EPS. NOV’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, sell-side analysts forecast that NOV will post 1.55 earnings per share for the current year.

Institutional Trading of NOV

Several institutional investors and hedge funds have recently bought and sold shares of NOV. Rise Advisors LLC purchased a new stake in NOV in the first quarter valued at approximately $26,000. Riverview Trust Co purchased a new stake in shares of NOV in the 1st quarter valued at $39,000. GAMMA Investing LLC acquired a new position in NOV during the 4th quarter worth about $61,000. International Assets Investment Management LLC boosted its holdings in NOV by 1,306.5% during 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 acquiring an additional 3,240 shares during the period. Finally, SYSTM Wealth Solutions LLC acquired a new position in NOV in the 1st quarter valued at about $78,000. 93.27% of the stock is currently owned by hedge funds and other 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.