The stock of NOV Inc. (NYSE:NOV) decreased by -$0.22 on Friday to finish at $20.65, down -1.05 percent. The last five days have seen an average of 2,472,685 shares of common stock traded. 12 times new highs were reached in the current year, with a fall of -$0.31. The average number of shares traded over the last 20 days was 4,057,626, while the average volume over the last 50 days totaled 4,546,670.
NOV stock appreciated 15.43% since last month. On 07/17/23, the company’s shares reached a one-month low of $17.68. The stock touched a high of $24.83 on 01/27/23, after rallying from a low of $14.05 in 52 weeks. The price of NOV stock has declined by -1.15% or -$0.31 this year, reaching a new high 12 times. Still, the stock price is down -16.83% from the 52-week high.
Insider Transactions
NOV stock investors should be aware that NOV Inc. (NOV) stock had its last reported insider trading activity 167 days ago on Feb 28. On Feb 28, Director MATTSON ERIC L sold 20,681 shares at $21.90 each. This transaction resulted in the insider making $452,919. On Feb 27, Novak Christy Lynn sold 9,607 shares at a price of US$21.86. After the transaction, the insider now owns 84,600 shares. VP, Corp. Controller, CAO Novak Christy Lynn had earlier sold 4,575 shares on Nov 04 for $23.17 a share. The transaction was completed for $106,011.
Valuation Metrics
NOV Inc. (NOV) has a trailing price-to-earnings (P/E) ratio of 19.59. Beta for the stock is 1.91. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 1.00, the price-to-book (PB) ratio of 1.49.
Company paid $0.05 per share in dividends, remained unchanged from $0.05 last year. A $0.41 dividend decrease was reported on Thursday May 19 2016.
Financial Health
For the three months ended June 29, NOV Inc.’s quick ratio was 1.40, while its current ratio was 2.40, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 0.36, and the total debt to equity ratio is 0.36. As far as profitability goes, gross margin for the trailing twelve months is 20.90% percent. NOV Inc.’s EBITDA margin for the year ended June 29 was 7.69%, whereas its operating margin stood at 6.50% for the same period. Based on annual data, it had gross profit of $1.33 billion and revenue of $7.24 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NOV’s return on assets (ROA) during the last 12 months has been 4.10%. There was a 2.60% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 8.10%.
Earnings Surprise
According to NOV Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.09 billion, while revenues rose by 17.49% to $1.96 billion. It was predicted that NOV Inc.’s quarterly earnings would be $0.39, but it ended up being $0.3. EBITDA was $252.0 million for the quarter. At the end of NOV Inc.’s most recent quarter ended June 29, its liabilities totaled 4.95 billion, while its total debt was $2.39 billion. Equity owned by shareholders amounts to $393.78 million.
Technical Picture
Here’s a quick look at NOV Inc.’s (NOV) price momentum from a technical perspective. As of 11 August, the RSI 9-day stood at 68.38%, suggesting the stock is Neutral, with a 17.34% historical volatility rate.
The stochastic %K and %D were 90.54% and 89.05% respectively, while the average true range (ATR) was 0.58. Based on the 14-day stochastic reading of 85.40%, the RSI (14) reading is 69.41%. On the 9-day MACD Oscillator, the stock is at 0.27, and the 14-day reading is at 0.62.
Analyst Ratings
In its analyst report released on July 14, 2023, CapitalOne began covering NOV Inc. (NYSE: NOV). The stock was rated as an Equal weight by the brokerage firm. Analysts have assigned NOV Inc. (NOV) an Overweight rating. NOV is a stock that is recommended for selling by 1 brokerage firm, while 9 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 2 rates it overweight and 13 others recommend it as a buy.
What is NOV’s price target for the next 12 months?
The current consensus forecast for the stock is between $18.00 and $30.00, with a median target price of $24.00. In analyzing these forecasts, the average price target given by analysts for NOV Inc. (NOV) is $24.39.
