NOV Inc. [NOV] gain 0.51% so far this year. What now?

NOV Inc. [NYSE: NOV] gained 5.91% or 0.77 points to close at $13.80 with a heavy trading volume of 5139070 shares. The company report on March 18, 2021 that NexTier Announces Successful Field Testing of NOV Electric Frac System.

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NexTier Oilfield Solutions Inc. (NYSE: NEX) (“NexTier” or the “Company”) and NOV, Inc. (NYSE: NOV) (“NOV”) announced the recent completion of the first phase of field testing of NOV’s electric fracturing system known as the Ideal™ eFrac pump. The Ideal eFrac pump provides efficient, environmentally conscious hydraulic fracturing capabilities that dramatically reduce emissions, equipment, and complexity at the well site.

The field test, completed on behalf of a major operator, was comprised of more than 300 operating hours with an average of more than 18 pumping hours per day, including the completion of 172 stimulation stages at rates up to 22 barrels per minute. The Ideal™ eFrac system is capable of operating on a variety of electrical sources, including turbine power generators, reciprocating gas engines, grid power, or battery power. As part of ongoing collaboration, NexTier and NOV expect to undergo three additional field trials on behalf of major operators.

It opened the trading session at $13.25, the shares rose to $14.19 and dropped to $13.18, the range by which the price of stock traded the whole day. The daily chart for NOV points out that the company has recorded 52.65% gains over the past six months. However, it is still -79.22% lower than its most recent low trading price.

If we look at the average trading volume of 5.00M shares, NOV reached to a volume of 5139070 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $16.14 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 0.65, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.90. The Price to Book ratio for the last quarter was 1.02. Price to Free Cash Flow for NOV in the course of the last twelve months was 8.05 with Quick ratio for the last quarter at 2.00.

Trading performance analysis for NOV stock

NOV Inc. [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.40. With this latest performance, NOV shares dropped by -18.49% in over the last four-week period, additionally plugging by 52.65% over the last 6 months – not to mention a rise of 14.43% 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 46.98, with the RSI for the last a single of trading hit 49.69, and the three-weeks RSI is set at 47.22 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 14.53, while it was recorded at 13.29 for the last single week of trading, and 12.52 for the last 200 days.

NOV Inc. [NOV]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and NOV Inc. [NOV] shares currently have an operating margin of -8.97 and a Gross Margin at +6.97. NOV Inc.’s Net Margin is presently recorded at -41.86.

Return on Total Capital for NOV is now -5.91, given the latest momentum, and Return on Invested Capital for the company is -28.09. Return on Equity for this stock declined to -39.14, with Return on Assets sitting at -21.54. When it comes to the capital structure of this company, NOV Inc. [NOV] has a Total Debt to Total Equity ratio set at 49.06. Additionally, NOV Total Debt to Total Capital is recorded at 32.91, with Total Debt to Total Assets ending up at 25.22. Long-Term Debt to Equity for the company is recorded at 46.95, with the Long-Term Debt to Total Capital now at 31.50.

Reflecting on the efficiency of the workforce at the company, NOV Inc. [NOV] managed to generate an average of -$91,998 per employee. Receivables Turnover for the company is 2.77 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 2.00 and a Current Ratio set at 2.80.

NOV Inc. [NOV]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, NOV Inc. posted 0.55/share EPS, while the average EPS was predicted by analysts to be reported at 0.09/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 511.10%. 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%.

An analysis of insider ownership at NOV Inc. [NOV]

There are presently around $4,610 million, or 90.70% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 44,123,045, which is approximately 15.878% of the company’s market cap and around 0.40% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 39,523,272 shares of the stock with an approximate value of $545.42 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $463.19 million in NOV stock with ownership of nearly -0.388% of the company’s market capitalization.

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Positions in NOV Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 144 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 29,637,095 shares. Additionally, 282 investors decreased positions by around 64,406,970 shares, while 43 investors held positions by with 240,008,187 shares. The mentioned changes placed institutional holdings at 334,052,252 shares, according to the latest SEC report filing. NOV stock had 51 new institutional investments in for a total of 9,874,138 shares, while 137 institutional investors sold positions of 32,791,239 shares during the same period.

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