The Benchmark Company slashes price target on NOV Inc [NOV] – find out why.

NOV Inc [NYSE: NOV] closed the trading session at $20.90. The company report on January 17, 2024 at 5:00 PM that NOV Appoints Patricia Melcher to the Board of Directors.

NOV Inc. (NYSE: NOV) announced today that Patricia B. “Patti” Melcher has been appointed to the Company’s Board of Directors, effective January 17, 2024. Ms. Melcher is currently a Managing Partner of EIV Capital, an energy-focused private equity firm she co-founded in 2009.

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“We are pleased to welcome Patti to our board of directors and look forward to her contributions and insights in capital allocation and governance,” said Clay Williams, Chairman, President, and Chief Executive Officer. “Patti is an outstanding business leader who brings decades of oilfield service and sustainable energy investing experience to our board, who will help guide our innovations to empower the energy industry to create value for NOV shareholders.”.

The stocks have a year to date performance of 3.06 percent and weekly performance of 9.54 percent. The stock has been moved at 10.76 percent over the last six months. The stock has performed 2.20 percent around the most recent 30 days and changed 5.34 percent over the most recent 3-months.

If compared to the average trading volume of 3.21M shares, NOV reached to a volume of 5320532 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 $25.54 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 2.00. 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 January 16, 2024.

The Average True Range (ATR) for NOV Inc is set at 0.60, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.99. 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 1.30.

NOV stock trade performance evaluation

NOV Inc [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.54. With this latest performance, NOV shares gained by 2.20% in over the last four-week period, additionally plugging by 10.76% over the last 6 months – not to mention a drop of -8.37% 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 61.37, with the RSI for the last a single of trading hit 66.50, and the three-weeks RSI is set at 58.41 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 19.58, while it was recorded at 19.99 for the last single week of trading, and 18.72 for the last 200 days.

NOV Inc [NOV]: An insightful look at the core fundamentals

NOV Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.43 and a Current Ratio set at 2.39.

Earnings per share (EPS) analysis for NOV Inc [NOV] stock

With the latest financial reports released by the company, NOV Inc posted 0.26/share EPS, while the average EPS was predicted by analysts to be reported at 0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. 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 32.30%.

NOV Inc [NOV]: Institutional Ownership

The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NOV stock with ownership which is approximately 5.8325%.