NOV Inc. (NOV) – The -5.33% Downside Potential Remains

NOV Inc. (NYSE: NOV) is 9.32% higher on its value in year-to-date trading and has touched a low of $7.70 and a high of $24.99 in the current 52-week trading range. The NOV stock was last observed hovering at around $15.12 in the last trading session, with the day’s loss setting it -0.11% off its average median price target of $14.25 for the next 12 months. It is also 16.61% off the consensus price target high of $18.00 offered by 25 analysts, but current levels are -66.78% lower than the price target low of $9.00 for the same period.

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Currently trading at $15.01, the stock is 7.36% and 20.63% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.61 million and changing -0.73% at the moment leaves the stock 27.38% off its SMA200. NOV registered -37.80% loss for a year compared to 6-month gain of 33.66%. The firm has a 50-day simple moving average (SMA 50) of $13.85 and a 200-day simple moving average (SMA200) of $11.64.

The stock witnessed a 4.60% loss in the last 1 month and extending the period to 3 months gives it a 62.27%, and is 9.32% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.36% over the week and 4.08% over the month.

NOV Inc. (NOV) has around 35479 employees, a market worth around $5.87B and $7.04B in sales. Profit margin for the company is -36.60%. Distance from 52-week low is 94.94% and -39.94% from its 52-week high. The company has generated returns on investments over the last 12 months (-58.80%).

NOV Inc. (NOV) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for NOV Inc. (NOV) is a “Overweight”. 25 analysts offering their recommendations for the stock have an average rating of 2.70, where 11 rate it as a Hold and 3 think it is a “Overweight”. 8 of the analysts rate the stock as a “Buy”. 3 analysts have rated the stock as a Sell or Underperform.

NOV Inc. is expected to release its quarterly report on 04/29/2021 and quarterly earnings per share for the current quarter are estimated at -$0.11 with sales reaching $1.36B over the same period.The EPS is expected to shrink by -128.60% this year, but quarterly earnings will post -27.70% year-over-year. Quarterly sales are estimated to shrink -40.40% in year-over-year returns.

NOV Inc. (NOV) Top Institutional Holders

647 institutions hold shares in NOV Inc. (NOV), with 1.73M shares held by insiders accounting for 0.44% while institutional investors hold 100.98% of the company’s shares. The shares outstanding are 385.00M, and float is at 358.65M with Short Float at 3.43%. Institutions hold 100.53% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 38.08 million shares valued at $344.98 million. The investor’s holdings represent 9.81% of the NOV Shares outstanding. As of Sep 29, 2020, the second largest holder is Pzena Investment Management, LLC with 37.95 million shares valued at $343.8 million to account for 9.77% of the shares outstanding. The other top investors are First Eagle Investment Management, LLC which holds 33.7 million shares representing 8.68% and valued at over $305.28 million, while Hotchkis & Wiley Capital Management, LLC holds 7.15% of the shares totaling 27.76 million with a market value of $251.47 million.

NOV Inc. (NOV) Insider Activity

The most recent transaction is an insider purchase by Bayardo Jose A, the company’s Senior VP and CFO. SEC filings show that Bayardo Jose A bought 8,500 shares of the company’s common stock on Mar 18 at a price of $8.24 per share for a total of $70005.0. Following the purchase, the insider now owns 0.25 million shares.

NOV Inc. disclosed in a document filed with the SEC on Mar 16 that Bayardo Jose A (Senior VP and CFO) bought a total of 11,500 shares of the company’s common stock. The trade occurred on Mar 16 and was made at $8.85 per share for $0.1 million. Following the transaction, the insider now directly holds 0.25 million shares of the NOV stock.

Still, SEC filings show that on Feb 21, Duff Scott K. (VP Cntrlr Chf Acctg Offcr) disposed off 7,134 shares at an average price of $23.30 for $0.17 million. The insider now directly holds 35,587 shares of NOV Inc. (NOV).

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