NOV Inc. [NYSE: NOV] loss -6.69% or -1.51 points to close at $21.06 with a heavy trading volume of 4323295 shares. The company report on February 24, 2023 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 March 31, 2023 to each stockholder of record on March 17, 2023.
It opened the trading session at $22.70, the shares rose to $22.885 and dropped to $21.00, the range by which the price of stock traded the whole day. The daily chart for NOV points out that the company has recorded 21.87% gains over the past six months. However, it is still -50.64% lower than its most recent low trading price.
If we look at the average trading volume of 3.44M shares, NOV reached to a volume of 4323295 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 $26.59 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 2.20. 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 Buy, with their previous recommendation back on January 19, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $21 to $24. The new note on the price target was released on January 04, 2023, representing the official price target for NOV Inc. stock. Previously, the target price had yet another raise to $30, while Raymond James analysts kept a Outperform rating on NOV stock. On November 07, 2022, analysts increased their price target for NOV shares from 16 to 25.
The Average True Range (ATR) for NOV Inc. is set at 0.82, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.12. The Price to Book ratio for the last quarter was 1.62, with the Price to Cash per share for the same quarter was set at 2.79.
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 -6.86. With this latest performance, NOV shares dropped by -9.50% in over the last four-week period, additionally plugging by 21.87% over the last 6 months – not to mention a drop of -4.10% 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 37.86, with the RSI for the last a single of trading hit 32.07, and the three-weeks RSI is set at 41.86 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 22.59, while it was recorded at 22.53 for the last single week of trading, and 19.75 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 +3.53 and a Gross Margin at +18.32. NOV Inc.’s Net Margin is presently recorded at +2.14.
Return on Equity for this stock inclined to 3.07, with Return on Assets sitting at 1.55.
NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.30.
An analysis of insider ownership at NOV Inc. [NOV]
There are presently around $7,701 million, or 97.10% of NOV stock, in the hands of institutional investors. The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 39,115,992, which is approximately 0.49% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 37,463,356 shares of the stock with an approximate value of $788.98 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $782.86 million in NOV stock with ownership of nearly 2.972% of the company’s market capitalization.
Positions in NOV Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 211 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 23,363,332 shares. Additionally, 140 investors decreased positions by around 30,035,393 shares, while 71 investors held positions by with 312,285,673 shares. The mentioned changes placed institutional holdings at 365,684,398 shares, according to the latest SEC report filing. NOV stock had 80 new institutional investments in for a total of 9,157,738 shares, while 34 institutional investors sold positions of 2,870,776 shares during the same period.