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

NOV Inc. [NYSE: NOV] gained 2.51% or 0.46 points to close at $18.81 with a heavy trading volume of 2476782 shares. 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.

It opened the trading session at $18.38, the shares rose to $18.935 and dropped to $18.34, the range by which the price of stock traded the whole day. The daily chart for NOV points out that the company has recorded 9.62% gains over the past six months. However, it is still -64.14% lower than its most recent low trading price.

If we look at the average trading volume of 3.86M shares, NOV reached to a volume of 2476782 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 0.75, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.20. The Price to Book ratio for the last quarter was 1.49, with the Price to Cash per share for the same quarter was set at 3.11.

Trading performance analysis for NOV stock

NOV Inc. [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.18. With this latest performance, NOV shares gained by 23.51% in over the last four-week period, additionally plugging by 9.62% over the last 6 months – not to mention a rise of 43.26% 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 62.68, with the RSI for the last a single of trading hit 67.10, and the three-weeks RSI is set at 59.03 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 16.74, while it was recorded at 18.10 for the last single week of trading, and 16.93 for the last 200 days.

NOV Inc. [NOV]: A deeper dive into fundamental analysis

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 $7,303 million, or 99.95% 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 $693.07 million in NOV stocks shares; and BLACKROCK INC., currently with $689.01 million in NOV stock with ownership of nearly 0.843% of the company’s market capitalization.

165 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 28,144,968 shares. Additionally, 161 investors decreased positions by around 25,948,268 shares, while 75 investors held positions by with 334,158,973 shares. The mentioned changes placed institutional holdings at 388,252,209 shares, according to the latest SEC report filing. NOV stock had 47 new institutional investments in for a total of 4,340,251 shares, while 45 institutional investors sold positions of 4,355,998 shares during the same period.

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