NOV Inc. [NYSE: NOV] closed the trading session at $12.62 on 01/28/21. The day’s price range saw the stock hit a low of $12.11, while the highest price level was $12.74. The company report on January 19, 2021 that NOV Provides Operational Update for the Fourth Quarter 2020.
NOV Inc. (NYSE: NOV) announced that it expects fourth quarter 2020 revenue and earnings to be below prior guidance. On a consolidated basis, the Company expects to report revenues of $1.33 billion, a GAAP operating loss of $327 million and Adjusted EBITDA of $17 million.
“While rising North American activity levels drove higher revenues in the U.S. for our shorter-cycle businesses, international markets and demand for capital equipment remained soft through year-end, which led to fourth quarter results that were below our expectations for our three segments,” commented Clay Williams, Chairman, President, and CEO. “The resurgence of COVID-19 caused customers to defer orders and resulted in a slower pace of bookings in the second half of the quarter; however, we still achieved a sequential increase in orders of 27 percent for our Completion & Production Solutions segment and a 105 percent book-to-bill for our Rig Technologies segment.”.
The stocks have a year to date performance of -8.08 percent and weekly performance of -5.75 percent. The stock has been moved at 7.96 percent over the last six months. The stock has performed -6.93 percent around the most recent 30 days and changed 46.92 percent over the most recent 3-months.
If compared to the average trading volume of 6.07M shares, NOV reached to a volume of 6052200 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about NOV Inc. [NOV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NOV shares is $15.39 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NOV stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on January 21, 2021. While these analysts kept the previous recommendation, Citigroup raised their target price from $15 to $18. The new note on the price target was released on January 12, 2021, representing the official price target for NOV Inc. stock.
The Average True Range (ATR) for NOV Inc. is set at 0.67, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.69. The Price to Book ratio for the last quarter was 0.89. Price to Free Cash Flow for NOV in the course of the last twelve months was 5.23 with Quick ratio for the last quarter at 1.90.
NOV stock trade performance evaluation
NOV Inc. [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.75. With this latest performance, NOV shares dropped by -6.93% in over the last four-week period, additionally plugging by 7.96% over the last 6 months – not to mention a drop of -39.09% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOV stock in for the last two-week period is set at 39.07, with the RSI for the last a single of trading hit 33.47, and the three-weeks RSI is set at 43.72 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 13.71, while it was recorded at 12.71 for the last single week of trading, and 12.02 for the last 200 days.
NOV Inc. [NOV]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and NOV Inc. [NOV] shares currently have an operating margin of -5.25 and a Gross Margin at +10.12. NOV Inc.’s Net Margin is presently recorded at -71.89.
Return on Total Capital for NOV is now -3.27, given the latest momentum, and Return on Invested Capital for the company is -45.21. Return on Equity for this stock declined to -56.44, with Return on Assets sitting at -36.64. When it comes to the capital structure of this company, NOV Inc. [NOV] has a Total Debt to Total Equity ratio set at 35.70. Additionally, NOV Total Debt to Total Capital is recorded at 26.31, with Total Debt to Total Assets ending up at 20.62. Long-Term Debt to Equity for the company is recorded at 34.24, with the Long-Term Debt to Total Capital now at 25.23.
Reflecting on the efficiency of the workforce at the company, NOV Inc. [NOV] managed to generate an average of -$171,792 per employee. Receivables Turnover for the company is 3.28 with a Total Asset Turnover recorded at a value of 0.51.NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 2.90.
Earnings per share (EPS) analysis for NOV Inc. [NOV] stock
With the latest financial reports released by the company, NOV Inc. posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.16/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 150.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NOV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NOV Inc. go to 18.90%.
NOV Inc. [NOV]: Insider Ownership positions
There are presently around $4,598 million, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 38,077,123, which is approximately -16.287% of the company’s market cap and around 0.45% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 37,946,645 shares of the stock with an approximate value of $478.89 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $425.23 million in NOV stock with ownership of nearly 41.921% of the company’s market capitalization.
Positions in NOV Inc. stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 179 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 47,069,266 shares. Additionally, 220 investors decreased positions by around 51,281,260 shares, while 72 investors held positions by with 266,022,464 shares. The mentioned changes placed institutional holdings at 364,372,990 shares, according to the latest SEC report filing. NOV stock had 52 new institutional investments in for a total of 4,634,096 shares, while 68 institutional investors sold positions of 29,024,366 shares during the same period.