NOV (NYSE:NOV) Sets New 1-Year High – What’s Next?
by Teresa Graham · The Cerbat GemNOV Inc. (NYSE:NOV – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $17.55 and last traded at $17.1450, with a volume of 34240 shares changing hands. The stock had previously closed at $16.41.
Analyst Upgrades and Downgrades
Several brokerages recently commented on NOV. Barclays lifted their target price on shares of NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a report on Wednesday, December 17th. Royal Bank Of Canada upped their target price on shares of NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $17.00 price objective on shares of NOV in a report on Tuesday, October 28th. Piper Sandler upped their price objective on shares of NOV from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, December 18th. Finally, Zacks Research raised NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.83.
Get Our Latest Analysis on NOV
NOV Trading Up 3.2%
The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. The stock has a 50-day moving average price of $15.50 and a two-hundred day moving average price of $13.88. The stock has a market capitalization of $6.18 billion, a PE ratio of 16.85, a PEG ratio of 4.38 and a beta of 0.95.
NOV (NYSE:NOV – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The business’s quarterly revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. As a group, equities analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.
NOV Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s dividend payout ratio is 30.00%.
Insider Buying and Selling at NOV
In other NOV news, Director Christian S. Kendall purchased 70,000 shares of the stock in a transaction on Friday, November 21st. The shares were bought at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the transaction, the director owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This trade represents a 438.90% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.85% of the stock is currently owned by company insiders.
Institutional Trading of NOV
Several large investors have recently bought and sold shares of NOV. CoreFirst Bank & Trust purchased a new position in NOV in the second quarter valued at approximately $35,000. UMB Bank n.a. raised its holdings in NOV by 114.1% during the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 1,657 shares in the last quarter. Hantz Financial Services Inc. boosted its holdings in NOV by 395.3% during the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 2,921 shares in the last quarter. Signaturefd LLC lifted its position in shares of NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in NOV by 123.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock valued at $67,000 after purchasing an additional 2,975 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.
About NOV
National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.
NOV’s business is organized to serve upstream energy companies around the world.