NOV (NYSE:NOV) Receives “In-Line” Rating from Evercore ISI

NOV (NYSE:NOV)‘s stock had its “in-line” rating reissued by analysts at Evercore ISI in a research note issued to investors on Wednesday, Marketbeat.com reports. They presently have a $18.00 price target on the oil and gas exploration company’s stock, down from their previous price target of $25.00. Evercore ISI’s target price suggests a potential upside of 19.09% from the company’s current price.

A number of other brokerages have also recently weighed in on NOV. Citigroup cut NOV from a “buy” rating to a “neutral” rating and lowered their price target for the company from $21.00 to $18.00 in a research report on Monday, November 11th. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Barclays lowered their price target on NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. reduced their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Finally, BMO Capital Markets reduced their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $20.00.

NOV Stock Performance

Shares of NYSE:NOV opened at $15.12 on Wednesday. The business’s fifty day moving average price is $15.32 and its two-hundred day moving average price is $16.54. NOV has a fifty-two week low of $13.94 and a fifty-two week high of $21.23. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.90 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the 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 of the company’s stock, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.85% of the company’s stock.

Hedge Funds Weigh In On NOV

Hedge funds have recently added to or reduced their stakes in the stock. Quarry LP acquired a new position in NOV in the third quarter valued at about $36,000. UMB Bank n.a. lifted its stake in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. American National Bank & Trust acquired a new position in NOV in the third quarter valued at about $39,000. International Assets Investment Management LLC increased its holdings in shares of NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of NOV during the 3rd quarter valued at about $48,000. Institutional investors and hedge funds 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.