NOV Inc. [NOV] Revenue clocked in at $5.38 billion, up 0.58% YTD: What’s Next?

NOV Inc. [NYSE: NOV] price plunged by -3.90 percent to reach at -$0.56. The company report on July 28, 2021 that NOV Reports Second Quarter 2021 Results.

NOV Inc. (NYSE: NOV) reported second quarter 2021 revenues of $1.42 billion, an increase of 13 percent compared to the first quarter of 2021 and a decrease of five percent compared to the second quarter of 2020. Net loss for the second quarter of 2021 was $26 million, or 1.8 percent of sales, which included pre-tax net charges (“Other Items”, see Other Corporate Items for additional detail) of $15 million. Adjusted EBITDA (operating profit excluding depreciation, amortization, and Other Items) increased sequentially to $104 million, or 7.3 percent of sales.

“Rising demand in oilfield and offshore wind markets led to stronger orders for NOV during the second quarter,” stated Clay Williams, Chairman, President and CEO. “Both Rig Technologies and Completion & Production Solutions segments posted book-to-bill ratios north of 100%. Wellbore Technologies continued to execute well on modestly higher oilfield activity, generating its second quarter in a row of double-digit revenue growth with leverage greater than 50 percent.”.

A sum of 6178066 shares traded at recent session while its average daily volume was at 4.68M shares. NOV Inc. shares reached a high of $14.31 and dropped to a low of $13.67 until finishing in the latest session at $13.81.

The one-year NOV stock forecast points to a potential upside of 21.31. The average equity rating for NOV stock is currently 2.40, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $17.55 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.

BMO Capital Markets have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on July 19, 2021. The new note on the price target was released on July 16, 2021, representing the official price target for NOV Inc. stock. Previously, the target price had yet another raise to $19, while Seaport Global Securities analysts kept a Buy rating on NOV stock. On July 09, 2021, analysts increased their price target for NOV shares from 13 to 18.

The Average True Range (ATR) for NOV Inc. is set at 0.69, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.04. The Price to Book ratio for the last quarter was 1.04. Price to Free Cash Flow for NOV in the course of the last twelve months was 12.23 with Quick ratio for the last quarter at 2.00.

NOV Stock Performance Analysis:

NOV Inc. [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.77. With this latest performance, NOV shares dropped by -9.86% in over the last four-week period, additionally plugging by 11.55% over the last 6 months – not to mention a rise of 19.98% 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 43.31, with the RSI for the last a single of trading hit 44.10, and the three-weeks RSI is set at 43.60 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 15.50, while it was recorded at 14.05 for the last single week of trading, and 14.05 for the last 200 days.

Insight into NOV Inc. 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 2.00 and a Current Ratio set at 2.70.

NOV Stock EPS

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 Position Details

There are presently around $4,916 million, or 93.30% 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 0.50% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 39,521,982 shares of the stock with an approximate value of $545.8 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $463.73 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 July and at the time of the July reporting period, where 212 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 63,579,935 shares. Additionally, 165 investors decreased positions by around 44,535,524 shares, while 66 investors held positions by with 247,845,491 shares. The mentioned changes placed institutional holdings at 355,960,950 shares, according to the latest SEC report filing. NOV stock had 89 new institutional investments in for a total of 28,590,935 shares, while 63 institutional investors sold positions of 34,826,737 shares during the same period.

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