For NOV Inc. [NOV], Analyst sees a rise to $28. What next?

NOV Inc. [NYSE: NOV] slipped around -0.19 points on Tuesday, while shares priced at $18.49 at the close of the session, down -1.02%. The company report on March 10, 2023 that NOV Announces First Quarter 2023 Earnings Conference Call.

NOV Inc. (NYSE: NOV) will hold a conference call to discuss its first quarter 2023 results on Thursday, April 27, 2023, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Wednesday, April 26, 2023. The call will be webcast live on www.nov.com/investors.

NOV Inc. stock is now -11.49% down from its year-to-date (YTD) trading value. NOV Stock saw the intraday high of $18.70 and lowest of $18.32 per share. The company’s 52-week high price is 24.83, which means current price is +10.13% above from all time high which was touched on 01/27/23.

Compared to the average trading volume of 4.19M shares, NOV reached a trading volume of 3527588 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $26.18 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 0.63, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 1.43, with the Price to Cash per share for the same quarter was set at 2.71.

How has NOV stock performed recently?

NOV Inc. [NOV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.05. With this latest performance, NOV shares gained by 6.20% in over the last four-week period, additionally plugging by 3.41% over the last 6 months – not to mention a drop of -10.07% 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 44.21, with the RSI for the last a single of trading hit 46.66, and the three-weeks RSI is set at 43.17 for NOV Inc. [NOV]. The present Moving Average for the last 50 days of trading for this stock 20.31, while it was recorded at 18.71 for the last single week of trading, and 19.71 for the last 200 days.

NOV Inc. [NOV]: Deeper insight into the fundamentals

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 Total Capital for NOV is now 3.41, given the latest momentum, and Return on Invested Capital for the company is 2.12. Return on Equity for this stock inclined to 3.07, with Return on Assets sitting at 1.55. When it comes to the capital structure of this company, NOV Inc. [NOV] has a Total Debt to Total Equity ratio set at 46.43. Additionally, NOV Total Debt to Total Capital is recorded at 31.71, with Total Debt to Total Assets ending up at 23.02. Long-Term Debt to Equity for the company is recorded at 44.47, with the Long-Term Debt to Total Capital now at 30.37.

Reflecting on the efficiency of the workforce at the company, NOV Inc. [NOV] managed to generate an average of $4,798 per employee. Receivables Turnover for the company is 3.44 with a Total Asset Turnover recorded at a value of 0.72.NOV Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 2.30.

Insider trade positions for NOV Inc. [NOV]

There are presently around $6,763 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 $699.82 million in NOV stocks shares; and FIRST EAGLE INVESTMENT MANAGEMENT, LLC, currently with $694.39 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 Wednesday and at the time of the Wednesday reporting period, where 197 institutional holders increased their position in NOV Inc. [NYSE:NOV] by around 22,388,367 shares. Additionally, 146 investors decreased positions by around 30,974,859 shares, while 77 investors held positions by with 308,669,790 shares. The mentioned changes placed institutional holdings at 362,033,016 shares, according to the latest SEC report filing. NOV stock had 75 new institutional investments in for a total of 8,934,966 shares, while 34 institutional investors sold positions of 1,502,994 shares during the same period.