why NOV Inc. [NOV] is a Good Choice for Investors After New Price Target of $17.55

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NOV Inc. [NYSE: NOV] gained 6.87% on the last trading session, reaching $12.92 price per share at the time. The company report on November 18, 2021 that NOV Reinstates Regular Quarterly Dividend.

NOV Inc. (NYSE: NOV) announced that its Board of Directors has reinstated its regular quarterly cash dividend of $0.05 per share of common stock.


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“Reinstating a regular quarterly dividend demonstrates our continued commitment to returning excess capital to our shareholders along with our growing confidence in the emerging recovery of our business,” stated Clay Williams, Chairman, President and CEO.

NOV Inc. represents 387.00 million in outstanding shares, while the company has a total market value of $5.27 billion with the latest information. NOV stock price has been found in the range of $12.37 to $13.155.

If compared to the average trading volume of 5.55M shares, NOV reached a trading volume of 6230757 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 $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 2.30. 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 0.61, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.00. Price to Free Cash Flow for NOV in the course of the last twelve months was 21.01 with Quick ratio for the last quarter at 2.00.

Trading performance analysis for NOV stock

NOV Inc. [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.37. With this latest performance, NOV shares dropped by -11.87% in over the last four-week period, additionally sinking by -19.60% over the last 6 months – not to mention a drop of -2.71% 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 40.76, with the RSI for the last a single of trading hit 40.68, and the three-weeks RSI is set at 42.50 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 13.94, while it was recorded at 12.49 for the last single week of trading, and 14.53 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 2.70.

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

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%.

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

There are presently around $4,757 million, or 96.10% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: PZENA INVESTMENT MANAGEMENT LLC with ownership of 40,799,160, which is approximately -0.715% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 37,197,075 shares of the stock with an approximate value of $480.59 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $443.14 million in NOV stock with ownership of nearly -1.508% of the company’s market capitalization.

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 186 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 42,524,524 shares. Additionally, 163 investors decreased positions by around 42,049,910 shares, while 74 investors held positions by with 283,596,190 shares. The mentioned changes placed institutional holdings at 368,170,624 shares, according to the latest SEC report filing. NOV stock had 48 new institutional investments in for a total of 11,752,762 shares, while 61 institutional investors sold positions of 4,316,594 shares during the same period.

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