NOV Inc [NYSE: NOV] surged by $0.08 during the normal trading session on while it closed the day at $20.10. The company report on March 26, 2024 at 6:30 AM that NOV Announces First Quarter 2024 Earnings Conference Call.
NOV Inc. (NYSE: NOV) will hold a conference call to discuss its first quarter 2024 results on Friday, April 26, 2024, at 10 a.m. (Central Time). NOV will issue a press release with the Company’s results after the market closes for trading on Thursday, April 25, 2024. The call will be webcast live on www.nov.com/investors.
About NOVNOV delivers technology-driven solutions to empower the global energy industry. For more than 150 years, NOV has pioneered innovations that enable its customers to safely produce abundant energy while minimizing environmental impact. The energy industry depends on NOV’s deep expertise and technology to continually improve oilfield operations and assist in efforts to advance the energy transition towards a more sustainable future. NOV powers the industry that powers the world.
NOV Inc stock has also gained 5.51% of its value over the past 7 days. However, NOV stock has declined by -0.30% in the 3 months of the year. Over the past six months meanwhile, it has lost -1.71% and lost -0.89% year-on date.
The market cap for NOV stock reached $7.92 billion, with 393.95 million shares outstanding and 390.43 million shares in the current float. Compared to the average trading volume of 4.60M shares, NOV reached a trading volume of 8840235 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 $23.87 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 2.08. 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 new note on the price target was released on January 16, 2024, representing the official price target for NOV Inc stock. Previously, the target price had yet another raise from $22 to $25, while JP Morgan kept a Overweight rating on NOV stock.
The Average True Range (ATR) for NOV Inc is set at 0.48, with the Price to Sales ratio for NOV stock in the period of the last 12 months amounting to 0.92. The Price to Book ratio for the last quarter was 1.28, with the Price to Cash per share for the same quarter was set at 2.07.
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 5.51. With this latest performance, NOV shares gained by 19.15% in over the last four-week period, additionally sinking by -1.71% over the last 6 months – not to mention a rise of 8.59% 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 72.66, with the RSI for the last a single of trading hit 80.54, and the three-weeks RSI is set at 65.70 for NOV Inc [NOV]. The present Moving Average for the last 50 days of trading for this stock 18.36, while it was recorded at 19.71 for the last single week of trading, and 19.20 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 1.51 and a Current Ratio set at 2.40.
Earnings per share (EPS) analysis for NOV Inc [NOV] stock
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%.
NOV Inc [NOV]: Institutional Ownership
The top three institutional holders of NOV stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in NOV stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in NOV stock with ownership which is approximately 5.8386%.
