NOV Inc. (NYSE: NOV) is 25.93% higher on its value in year-to-date trading and has touched a low of $7.70 and a high of $18.68 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The NOV stock was last observed hovering at around $15.42 in the last trading session, with the day’s gains setting it 1.87% off its average median price target of $15.00 for the next 12 months. It is also 21.41% off the consensus price target high of $22.00 offered by 25 analysts, but current levels are -44.08% lower than the price target low of $12.00 for the same period.
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Currently trading at $17.29, the stock is 19.25% and 22.65% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.8 million and changing 12.13% at the moment leaves the stock 40.85% off its SMA200. NOV registered -4.32% loss for a year compared to 6-month gain of 46.03%. The firm has a 50-day simple moving average (SMA 50) of $14.04 and a 200-day simple moving average (SMA200) of $12.25.
The stock witnessed a 26.95% loss in the last 1 month and extending the period to 3 months gives it a 31.78%, and is 14.50% 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 5.38% over the week and 5.08% over the month.
NOV Inc. (NOV) has around 27631 employees, a market worth around $5.99B and $6.09B in sales. Fwd P/E is 166.25. Profit margin for the company is -41.70%. Distance from 52-week low is 124.55% and -7.44% from its 52-week high. The company has generated returns on investments over the last 12 months (-33.80%).
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 2.40, where 9 rate it as a Hold and 3 think it is a “Overweight”. 11 of the analysts rate the stock as a “Buy”. 2 analysts have rated the stock as a Sell or Underperform.
NOV Inc. is expected to release its quarterly report on 04/27/2021 and quarterly earnings per share for the current quarter are estimated at -$0.17 with sales reaching $1.32B over the same period.The EPS is expected to grow by 53.80% this year, but quarterly earnings will post -7.90% year-over-year. Quarterly sales are estimated to shrink -29.90% 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 384.00M, and float is at 357.99M with Short Float at 4.70%. Institutions hold 100.53% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 44.12 million shares valued at $605.81 million. The investor’s holdings represent 11.37% of the NOV Shares outstanding. As of Dec 30, 2020, the second largest holder is Pzena Investment Management, LLC with 39.52 million shares valued at $542.65 million to account for 10.18% of the shares outstanding. The other top investors are First Eagle Investment Management, LLC which holds 33.56 million shares representing 8.65% and valued at over $460.84 million, while Hotchkis & Wiley Capital Management, LLC holds 7.23% of the shares totaling 28.05 million with a market value of $385.17 million.
NOV Inc. (NOV) Insider Activity
A total of 31 insider transactions have happened at NOV Inc. (NOV) in the last six months, with sales accounting for 21 and purchases happening 10 times. The most recent transaction is an insider sale by Duff Scott K., the company’s VP Cntrlr Chf Acctg Offcr. SEC filings show that Duff Scott K. sold 10,000 shares of the company’s common stock on Feb 23 at a price of $14.81 per share for a total of $0.15 million. Following the sale, the insider now owns 0.1 million shares.
NOV Inc. disclosed in a document filed with the SEC on Mar 18 that Bayardo Jose A (Senior VP and CFO) bought a total of 8,500 shares of the company’s common stock. The trade occurred on Mar 18 and was made at $8.24 per share for $70005.0. Following the transaction, the insider now directly holds 0.25 million shares of the NOV stock.
Still, SEC filings show that on Mar 16, Bayardo Jose A (Senior VP and CFO) acquired 11,500 shares at an average price of $8.85 for $0.1 million. The insider now directly holds 245,748 shares of NOV Inc. (NOV).