NOV (NYSE:NOV) Stock Price Expected to Rise, Barclays Analyst Says

NOV (NYSE:NOV) had its price target increased by stock analysts at Barclays from $12.00 to $13.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “underweight” rating on the oil and gas exploration company’s stock. Barclays‘s price objective would indicate a potential downside of 16.45% from the stock’s previous close.

Several other equities analysts have also recently commented on NOV. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and decreased their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company cut their price target on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. TD Cowen decreased their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Finally, Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $19.60.

NOV Stock Performance

Shares of NOV stock opened at $15.56 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.46. The firm has a market cap of $6.05 billion, a P/E ratio of 9.66, a P/E/G ratio of 1.00 and a beta of 1.64. The firm’s 50 day moving average price is $14.93 and its 200-day moving average price is $15.93. NOV has a one year low of $13.94 and a one year high of $21.20.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that NOV will post 1.42 EPS for the current year.

Insider Transactions at NOV

In related news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank lifted its holdings in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares during the period. Covestor Ltd raised its position in NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares during the last quarter. UMB Bank n.a. raised its position in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the last quarter. Quarry LP purchased a new stake in shares of NOV in the third quarter valued at about $36,000. Finally, Signaturefd LLC increased its stake in shares of NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares during the period. 93.27% of the stock is currently 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.