NOV Inc [NOV] stock Downgrade by Barclays analyst, price target now $20

NOV Inc [NYSE: NOV] loss -4.73% on the last trading session, reaching $18.73 price per share at the time. The company report on October 26, 2023 at 5:52 PM that NOV Announces Retirements and Appointments of Officers and Consolidation of Operational Segment Structure.

NOV Inc. (NYSE: NOV) announced the retirement of Isaac Joseph, President of Wellbore Technologies, and Kirk Shelton, President of Completion and Production Solutions, effective December 31, 2023.

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Clay Williams, Chairman, President, and CEO stated, “I would like to thank both Isaac and Kirk for their many contributions to NOV throughout the years. Their leadership and mentorship have had an immeasurable positive impact on both the company and the many people they have led throughout the years.”.

NOV Inc represents 392.83 million in outstanding shares, while the company has a total market value of $7.38 billion with the latest information. NOV stock price has been found in the range of $18.29 to $19.58.

If compared to the average trading volume of 3.49M shares, NOV reached a trading volume of 3447184 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 $25.17 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 2.04. 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.

Barclays have made an estimate for NOV Inc shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 17, 2023.

The Average True Range (ATR) for NOV Inc is set at 0.72, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.89. The Price to Book ratio for the last quarter was 1.34, with the Price to Cash per share for the same quarter was set at 1.30.

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 -0.74. With this latest performance, NOV shares dropped by -10.04% in over the last four-week period, additionally plugging by 23.30% over the last 6 months – not to mention a drop of -20.87% 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 40.29, with the RSI for the last a single of trading hit 37.37, and the three-weeks RSI is set at 42.40 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 20.13, while it was recorded at 19.41 for the last single week of trading, and 18.97 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 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 1.43 and a Current Ratio set at 2.39.

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 36.00%.

An analysis of Institutional ownership at NOV Inc [NOV]

The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in NOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in NOV stock with ownership which is approximately 5.7994%.