For NOV Inc. [NOV], Analyst sees a rise to $18. What next?

NOV Inc. [NYSE: NOV] plunged by -$0.28 during the normal trading session on Thursday and reaching a high of $16.52 during the day while it closed the day at $16.22. The company report on April 28, 2021 that NOV Reports First Quarter 2021 Results.

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NOV Inc. (NYSE: NOV) reported first quarter 2021 revenues of $1.25 billion, a decrease of six percent compared to the fourth quarter of 2020 and a decrease of 34 percent compared to the first quarter of 2020. Net loss for the first quarter of 2021 was $115 million, or 9.2 percent of sales, which included non-cash, pre-tax charges (“other items”, see Other Corporate Items for additional detail) of $9 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and other items) decreased $17 million sequentially to $0.

“We are encouraged by signs of an emerging global recovery for our industry,” stated Clay Williams, Chairman, President and CEO. “However, NOV’s weak first quarter results reflect the extreme austerity that descended on the oilfield following the economic shutdown of 2020, as our oilfield service customers preserved cash by cannibalizing idle equipment rather than buying new. Severe winter weather in Texas and Oklahoma, additional COVID lockdown measures in Asia, and supply chain disruptions further impacted first quarter results.

NOV Inc. stock has also loss -2.70% of its value over the past 7 days. However, NOV stock has inclined by 15.61% in the 3 months of the year. Over the past six months meanwhile, it has gained 32.95% and gained 18.14% year-on date.

The market cap for NOV stock reached $6.03 billion, with 385.00 million shares outstanding and 360.42 million shares in the current float. Compared to the average trading volume of 4.96M shares, NOV reached a trading volume of 4574942 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 $16.66 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.

Goldman have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 13, 2021. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $13.50 to $17. The new note on the price target was released on January 21, 2021, representing the official price target for NOV Inc. stock. Previously, the target price had yet another raise from $15 to $18, while Citigroup kept a Buy rating on NOV stock.

The Average True Range (ATR) for NOV Inc. is set at 0.74, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.11. The Price to Book ratio for the last quarter was 1.23. Price to Free Cash Flow for NOV in the course of the last twelve months was 9.24 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 -2.70. With this latest performance, NOV shares gained by 24.10% in over the last four-week period, additionally plugging by 32.95% over the last 6 months – not to mention a rise of 24.77% 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 53.51, with the RSI for the last a single of trading hit 48.67, and the three-weeks RSI is set at 54.77 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 14.85, while it was recorded at 17.12 for the last single week of trading, and 12.98 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 -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 1.90 and a Current Ratio set at 2.60.

Earnings per share (EPS) analysis for NOV Inc. [NOV] stock

With the latest financial reports released by the company, NOV Inc. posted 0.02/share EPS, while the average EPS was predicted by analysts to be reported at -0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 115.40%. 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 $5,815 million, or 94.30% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 44,115,723, which is approximately -0.017% of the company’s market cap and around 0.40% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 39,521,982 shares of the stock with an approximate value of $641.05 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $544.66 million in NOV stock with ownership of nearly 0.046% 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 226 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 65,736,581 shares. Additionally, 156 investors decreased positions by around 41,687,523 shares, while 63 investors held positions by with 251,107,009 shares. The mentioned changes placed institutional holdings at 358,531,113 shares, according to the latest SEC report filing. NOV stock had 112 new institutional investments in for a total of 29,829,423 shares, while 57 institutional investors sold positions of 34,135,763 shares during the same period.

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