NOV Inc [NYSE: NOV] gained 1.63% or 0.28 points to close at $17.48 with a heavy trading volume of 5916934 shares. The company report on February 1, 2024 at 5:30 PM that NOV Reports Fourth Quarter and Full Year 2023 Earnings.
Fourth quarter revenue of $2.34 billion, up 7% sequentially and up 13% year-over-year.
Operating Profit of $161 million, down $22 million sequentially and down $1 million year-over-year.
The daily chart for NOV points out that the company has recorded -16.24% loss over the past six months.
If we look at the average trading volume of 1.46 shares, NOV reached to a volume of 5916934 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 $24.30 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.
TD Cowen have made an estimate for NOV Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on February 05, 2024.
The Average True Range (ATR) for NOV Inc is set at 0.69, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 1.25, with the Price to Cash per share for the same quarter was set at 2.07.
Trading performance analysis for NOV stock
NOV Inc [NOV] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.98. With this latest performance, NOV shares dropped by -10.13% in over the last four-week period, additionally sinking by -16.24% over the last 6 months – not to mention a drop of -24.10% 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 35.52, with the RSI for the last a single of trading hit 32.74, and the three-weeks RSI is set at 38.25 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 19.46, while it was recorded at 17.33 for the last single week of trading, and 18.74 for the last 200 days.
NOV Inc [NOV]: A deeper dive into fundamental analysis
NOV Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.51 and a Current Ratio set at 2.40.
NOV Inc [NOV]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NOV Inc posted 0.32/share EPS, while the average EPS was predicted by analysts to be reported at 0.22/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 45.50%. 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%.
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 8.2815%. 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%.
