JP Morgan slashes price target on NOV Inc. [NOV] – find out why.


NOV Inc. [NYSE: NOV] stock went on an upward path that rose over 5.00% on Tuesday, amounting to a one-week price increase of more than 8.12%. The company report on December 6, 2021 that NOV Announces Fourth Quarter 2021 Earnings Conference Call.

NOV Inc. (NYSE: NOV) will hold a conference call to discuss its fourth quarter 2021 results on Friday, February 4, 2022 at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, February 3, 2022. The call will be webcast live on

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Over the last 12 months, NOV stock dropped by -0.19%. The one-year NOV Inc. stock forecast points to a potential upside of 8.85. The average equity rating for NOV stock is currently 2.40, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $6.11 billion, with 387.00 million shares outstanding and 361.68 million shares in the current float. Compared to the average trading volume of 3.83M shares, NOV stock reached a trading volume of 3751810 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $17.52 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.

JP Morgan have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 14, 2021. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Sector Perform. The new note on the price target was released on September 09, 2021, representing the official price target for NOV Inc. stock. Previously, the target price had yet another raise from $14 to $15, while BMO Capital Markets kept a Market Perform rating on NOV stock.

The Average True Range (ATR) for NOV Inc. is set at 0.58, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.15. 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 24.35 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 8.12. With this latest performance, NOV shares gained by 16.83% in over the last four-week period, additionally plugging by 10.98% over the last 6 months – not to mention a drop of -0.19% 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 76.18, with the RSI for the last a single of trading hit 84.64, and the three-weeks RSI is set at 69.50 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 13.55, while it was recorded at 15.13 for the last single week of trading, and 14.27 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.


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 41.00%.

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NOV Inc. [NOV] Insider Position Details

There are presently around $5,841 million, or 96.40% 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 0.55% of the total institutional ownership; VANGUARD GROUP INC, holding 37,197,075 shares of the stock with an approximate value of $594.04 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $547.76 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 February and at the time of the February reporting period, where 186 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 42,163,421 shares. Additionally, 159 investors decreased positions by around 41,968,968 shares, while 75 investors held positions by with 281,629,306 shares. The mentioned changes placed institutional holdings at 365,761,695 shares, according to the latest SEC report filing. NOV stock had 50 new institutional investments in for a total of 11,768,782 shares, while 61 institutional investors sold positions of 4,253,978 shares during the same period.