Market Analysts see NOV Inc. [NOV] gaining to $15. Time to buy?

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NOV Inc. [NYSE: NOV] price plunged by -0.40 percent to reach at -$0.06. The company report on September 28, 2021 that NOV Announces Chief Accounting Officer Retirement and Appointment.

NOV Inc. (NYSE: NOV) announced Scott K. Duff Vice President, Corporate Controller and Chief Accounting Officer, notified the Company of his intention to retire. Mr. Duff will step down from his current role effective November 1, 2021 and remain employed as an advisor until his retirement on February 28, 2022. Christy H. Novak will succeed Mr. Duff as Vice President, Corporate Controller and Chief Accounting Officer effective November 1, 2021.


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“On behalf of the entire organization I would like to thank Scott for his innumerable contributions during his nearly 18-year career with NOV,” commented Jose Bayardo, Senior Vice President and Chief Financial Officer. “Scott’s leadership, underpinned by intelligence, rigor, discipline and integrity, will have a lasting influence on our organization. I am especially grateful for the deep bench of talented professionals he developed and mentored within our accounting organization, including Christy Novak, who will carry forward his legacy of excellence. Scott will be greatly missed by all of us at NOV and we wish him the very best in his retirement.”.

A sum of 3447186 shares traded at recent session while its average daily volume was at 5.74M shares. NOV Inc. shares reached a high of $15.29 and dropped to a low of $14.751 until finishing in the latest session at $14.93.

The one-year NOV stock forecast points to a potential upside of 14.59. The average equity rating for NOV stock is currently 2.30, 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 $17.48 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 2.30. 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.

RBC Capital Mkts have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on September 09, 2021. While these analysts kept the previous recommendation, BMO Capital Markets raised their target price from $14 to $15. The new note on the price target was released on July 19, 2021, representing the official price target for NOV Inc. stock.

The Average True Range (ATR) for NOV Inc. is set at 0.53, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.06. The Price to Book ratio for the last quarter was 1.13. Price to Free Cash Flow for NOV in the course of the last twelve months was 12.39 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 2.75. With this latest performance, NOV shares gained by 11.50% in over the last four-week period, additionally plugging by 17.01% over the last 6 months – not to mention a rise of 73.60% 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 64.82, with the RSI for the last a single of trading hit 69.58, and the three-weeks RSI is set at 60.70 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 13.38, while it was recorded at 14.70 for the last single week of trading, and 14.51 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 $5,480 million, or 96.10% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 43,365,118, which is approximately -1.701% of the company’s market cap and around 0.10% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 41,092,801 shares of the stock with an approximate value of $613.52 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $519.92 million in NOV stock with ownership of nearly 3.706% of the company’s market capitalization.

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Positions in NOV Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 174 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 35,615,915 shares. Additionally, 185 investors decreased positions by around 30,532,817 shares, while 74 investors held positions by with 300,869,313 shares. The mentioned changes placed institutional holdings at 367,018,045 shares, according to the latest SEC report filing. NOV stock had 53 new institutional investments in for a total of 9,163,933 shares, while 58 institutional investors sold positions of 3,931,811 shares during the same period.

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