NOV Inc. [NYSE: NOV] closed the trading session at $14.85 on 09/27/22. The day’s price range saw the stock hit a low of $14.81, while the highest price level was $15.41. The company report on September 8, 2022 that NOV Announces Third Quarter 2022 Earnings Conference Call.
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NOV Inc. (NYSE: NOV) will hold a conference call to discuss its third quarter 2022 results on Friday, October 28, 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, October 27, 2022. The call will be webcast live on www.nov.com/investors.
The stocks have a year to date performance of 9.59 percent and weekly performance of -10.81 percent. The stock has been moved at -22.49 percent over the last six months. The stock has performed -20.42 percent around the most recent 30 days and changed -14.26 percent over the most recent 3-months.
If compared to the average trading volume of 3.37M shares, NOV reached to a volume of 4066686 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 $22.00 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.
The Benchmark Company have made an estimate for NOV Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price from $10 to $15. The new note on the price target was released on July 29, 2022, representing the official price target for NOV Inc. stock. Previously, the target price had yet another raise to $26, while Griffin Securities analysts kept a Buy rating on NOV stock. On March 14, 2022, analysts decreased their price target for NOV shares from 22 to 21.
The Average True Range (ATR) for NOV Inc. is set at 0.76, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.04. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 2.84.
NOV stock trade performance evaluation
NOV Inc. [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.81. With this latest performance, NOV shares dropped by -20.42% in over the last four-week period, additionally sinking by -22.49% over the last 6 months – not to mention a rise of 10.41% 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 32.38, with the RSI for the last a single of trading hit 26.45, and the three-weeks RSI is set at 36.80 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 17.18, while it was recorded at 15.55 for the last single week of trading, and 17.41 for the last 200 days.
NOV Inc. [NOV]: An insightful look at the core fundamentals
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.
Earnings per share (EPS) analysis for NOV Inc. [NOV] stock
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%.
NOV Inc. [NOV]: Insider Ownership positions
There are presently around $5,766 million, 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 0.20% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, holding 36,845,885 shares of the stock with an approximate value of $547.16 million in NOV stocks shares; and BLACKROCK INC., currently with $543.96 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 28,145,117 shares. Additionally, 160 investors decreased positions by around 25,947,921 shares, while 76 investors held positions by with 334,160,321 shares. The mentioned changes placed institutional holdings at 388,253,359 shares, according to the latest SEC report filing. NOV stock had 49 new institutional investments in for a total of 4,340,400 shares, while 44 institutional investors sold positions of 4,355,651 shares during the same period.