NOV (NYSE:NOV) Sets New 12-Month High at $17.81

NOV Inc. (NYSE:NOV)’s share price hit a new 52-week high on Monday . The company traded as high as $17.81 and last traded at $17.39, with a volume of 25664 shares changing hands. The stock had previously closed at $17.25.

A number of analysts have commented on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised shares of NOV from a “neutral” rating to a “buy” rating and upped their target price for the company from $15.00 to $18.00 in a report on Tuesday, January 12th. Wells Fargo & Company raised shares of NOV from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $13.50 to $17.00 in a research note on Thursday, January 21st. Barclays raised shares of NOV from an “equal weight” rating to an “outperform” rating and increased their price objective for the stock from $12.00 to $18.00 in a research note on Monday, May 3rd. Zacks Investment Research cut shares of NOV from a “hold” rating to a “sell” rating and set a $18.00 target price for the company. in a research note on Thursday, March 11th. Finally, Smith Barney Citigroup raised shares of NOV from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 12th. Four analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $14.81.

The business’s 50-day moving average price is $14.19 and its 200-day moving average price is $13.64. The company has a current ratio of 2.85, a quick ratio of 1.93 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.63 billion, a PE ratio of -2.52 and a beta of 2.22.

NOV (NYSE:NOV) last released its earnings results on Tuesday, April 27th. The oil and gas exploration company reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. NOV had a positive return on equity of 1.13% and a negative net margin of 36.63%. The firm’s revenue for the quarter was down 33.7% on a year-over-year basis. During the same quarter last year, the business earned ($5.34) earnings per share. As a group, analysts predict that NOV Inc. will post -0.09 earnings per share for the current year.

In other NOV news, VP Scott K. Duff sold 10,000 shares of NOV stock in a transaction that occurred on Tuesday, February 23rd. The shares were sold at an average price of $14.81, for a total transaction of $148,100.00. Insiders own 0.92% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobi Capital Management LLC boosted its position in shares of NOV by 139.5% during the 1st quarter. Jacobi Capital Management LLC now owns 5,751 shares of the oil and gas exploration company’s stock valued at $79,000 after acquiring an additional 3,350 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of NOV during the first quarter worth about $596,000. Rockefeller Capital Management L.P. lifted its position in shares of NOV by 229.1% during the first quarter. Rockefeller Capital Management L.P. now owns 3,159 shares of the oil and gas exploration company’s stock worth $43,000 after purchasing an additional 2,199 shares in the last quarter. Ruffer LLP purchased a new stake in shares of NOV during the first quarter worth approximately $2,725,000. Finally, Lord Abbett & CO. LLC increased its stake in shares of NOV by 63.9% during the first quarter. Lord Abbett & CO. LLC now owns 1,176,570 shares of the oil and gas exploration company’s stock worth $16,143,000 after buying an additional 458,500 shares during the period. 94.50% of the stock is owned by institutional investors.

About NOV (NYSE:NOV)

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for use in oil and gas drilling and production, and industrial and renewable energy sectors worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.

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