NOV Inc. [NOV] gain 31.81% so far this year. What now?

NOV Inc. [NYSE: NOV] gained 1.77% on the last trading session, reaching $17.86 price per share at the time. The company report on August 17, 2022 that NOV Declares Regular Quarterly Dividend.

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NOV Inc. (NYSE: NOV) today announced that its Board of Directors declared the regular quarterly cash dividend of $0.05 per share of common stock, payable on September 30, 2022 to each stockholder of record on September 16, 2022.

NOV Inc. represents 390.00 million in outstanding shares, while the company has a total market value of $6.94 billion with the latest information. NOV stock price has been found in the range of $17.725 to $18.14.

If compared to the average trading volume of 3.83M shares, NOV reached a trading volume of 5012250 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 $22.11 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.

BofA Securities have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 29, 2022. The new note on the price target was released on May 02, 2022, representing the official price target for NOV Inc. stock. Previously, the target price had yet another drop from $22 to $21, while Citigroup kept a Neutral 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 1.13. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 3.13.

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 -3.09. With this latest performance, NOV shares gained by 17.97% in over the last four-week period, additionally plugging by 4.02% over the last 6 months – not to mention a rise of 44.26% 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 55.96, with the RSI for the last a single of trading hit 56.77, and the three-weeks RSI is set at 54.12 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 16.89, while it was recorded at 17.89 for the last single week of trading, and 16.86 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 -2.26 and a Gross Margin at +14.17. NOV Inc.’s Net Margin is presently recorded at -4.52.

Return on Equity for this stock declined to -4.90, with Return on Assets sitting at -2.51.

NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.30.

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 41.00%.

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

There are presently around $6,934 million, or 99.30% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 38,576,215, which is approximately 1.155% of the company’s market cap and around 0.70% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 36,845,885 shares of the stock with an approximate value of $658.07 million in NOV stocks shares; and BLACKROCK INC., currently with $654.21 million in NOV stock with ownership of nearly 0.843% of the company’s market capitalization.

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 167 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 28,563,815 shares. Additionally, 161 investors decreased positions by around 26,609,673 shares, while 75 investors held positions by with 333,094,963 shares. The mentioned changes placed institutional holdings at 388,268,451 shares, according to the latest SEC report filing. NOV stock had 48 new institutional investments in for a total of 4,422,407 shares, while 47 institutional investors sold positions of 5,030,167 shares during the same period.


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