Will NOV Inc (NOV) benefit from Wall Street bulls Calls?

NOV Inc (NYSE: NOV) is -15.19% lower on its value in year-to-date trading and has touched a low of $14.05 and a high of $24.21 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NOV stock was last observed hovering at around $17.27 in the last trading session, with the day’s loss setting it -0.07%.

Currently trading at $17.20, the stock is -11.08% and -11.90% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.01 million and changing -0.41% at the moment leaves the stock -8.24% off its SMA200. NOV registered -26.40% loss for a year compared to 6-month loss of -16.67%. The firm has a 50-day simple moving average (SMA 50) of $0.97 and a 200-day simple moving average (SMA200) of $8.56.

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The stock witnessed a -9.90% gain in the last 1 month and extending the period to 3 months gives it a -8.22%, and is -2.38% down 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 2.97% over the week and 3.58% over the month.

NOV Inc (NOV) has around Dec 07 2023 employees, a market worth around $6.78B and $8.58B in sales. Current P/E ratio is 6.87 and Fwd P/E is 9.07. Profit margin for the company is 11.58%. Distance from 52-week low is 22.42% and -28.95% from its 52-week high. The company has generated returns on investments over the last 12 months (11.67%).

NOV Inc quarterly earnings per share for the current quarter are estimated at $0.27 with sales reaching $2.12B over the same period.The EPS is expected to shrink by -32.39% this year, but quarterly earnings will post 6.60% year-over-year. Quarterly sales are estimated to grow 8.20% in year-over-year returns.

NOV Inc (NOV) Top Institutional Holders

505 institutions hold shares in NOV Inc (NOV), with institutional investors hold 94.69% of the company’s shares. The shares outstanding are 392.83M, and float is at 390.16M with Short Float at 3.06%. Institutions hold 93.96% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 39.27 million shares valued at $629.94 million. The investor’s holdings represent 9.97% of the NOV Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 37.39 million shares valued at $599.71 million to account for 9.49% of the shares outstanding. The other top investors are First Eagle Investment Management, LLC which holds 37.01 million shares representing 9.40% and valued at over $593.6 million, while Pzena Investment Management Llc holds 9.34% of the shares totaling 36.79 million with a market value of $590.12 million.

NOV Inc (NOV) Insider Activity

A total of 0 insider transactions have happened at NOV Inc (NOV) in the last six months, with sales accounting for 0 and purchases happening 0 times. The most recent transaction is an insider sale by MATTSON ERIC L ,the company’sDirector. SEC filings show that MATTSON ERIC L sold 20,681 shares of the company’s common stock on Feb 28 at a price of $21.90 per share for a total of $0.45 million. Following the sale, the insider now owns 46600.0 shares.

NOV Inc disclosed in a document filed with the SEC on Feb 27 that Novak Christy Lynn (VP, Corp. Controller, CAO) sold a total of 9,607 shares of the company’s common stock. The trade occurred on Feb 27 and was made at $21.86 per share for $0.21 million. Following the transaction, the insider now directly holds 84600.0 shares of the NOV stock.

NOV Inc (NOV): Who are the competitors?

The company’s main competitors (and peers) include Schlumberger Ltd. (SLB) that is trading -17.85% down over the past 12 months. Baker Hughes Co. (BKR) that is -11.99% lower over the same period.