NOV (NYSE:NOV) Given New $15.00 Price Target at Wells Fargo & Company

NOV (NYSE:NOV) had its price objective trimmed by Wells Fargo & Company from $16.00 to $15.00 in a report released on Monday, Benzinga reports. The brokerage currently has an underweight rating on the oil and gas exploration company’s stock.

Several other research analysts have also recently weighed in on NOV. Bank of America decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. 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. Morgan Stanley reduced their price objective on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Barclays reduced their price target on shares of NOV from $17.00 to $16.00 and set an “underweight” rating for the company in a research report on Tuesday, October 29th. Finally, Citigroup reduced their target price on shares of NOV from $24.00 to $21.00 and set a “buy” rating for the company in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.86.

NOV Trading Up 1.5 %

NOV stock opened at $15.39 on Monday. NOV has a one year low of $14.98 and a one year high of $21.23. The business’s fifty day moving average is $16.26 and its 200 day moving average is $17.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The stock has a market capitalization of $5.99 billion, a PE ratio of 5.68, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Friday, September 13th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Wintrust Investments LLC boosted its holdings in NOV by 631.6% during the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock valued at $1,600,000 after acquiring an additional 70,743 shares during the period. Stanley Laman Group Ltd. bought a new position in NOV in the 2nd quarter worth about $4,031,000. Deprince Race & Zollo Inc. increased its position in shares of NOV by 1,194.1% during the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after acquiring an additional 1,574,188 shares during the period. WINTON GROUP Ltd raised its stake in shares of NOV by 1,866.3% during the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after acquiring an additional 798,303 shares in the last quarter. Finally, Duality Advisers LP purchased a new stake in shares of NOV in the first quarter valued at approximately $2,646,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

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.