NOV Inc. (NYSE:NOV) finished Wednesday with an addition of $0.15 to close at $20.39, an upside of 0.74 percent. An average of 3,362,640 shares of common stock have been traded in the last five days. There was a gain of $0.05 in the past week, and it reached a new high 15 times over the past 12 months. The last 20 days have seen an average of 3,883,100 shares traded, while the 50-day average volume stands at 4,315,188.
NOV stock has increased by 8.06% in the last month. The company shares reached their 1-month lowest point of $18.27 on 07/27/23. With the stock rallying to its 52-week high on 01/27/23, shares of the company touched a low of $14.05 and a high of $24.83 in 52 weeks. It has reached a new high 12 times so far this year and lost -2.39% or -$0.50 in price. In spite of this, the price is down -17.88% from the 52-week high.
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Insider Transactions
NOV stock investors should be aware that NOV Inc. (NOV) stock had its last reported insider trading activity 177 days ago on Feb 28. In this transaction, the insider spent $452,919. VP, Corp. Controller, CAO, Novak Christy Lynn, disposed of 9,607 shares at a price of $21.86 on Feb 27. The insider now owns more than $210,019 worth of shares. Prior to that, VP, Corp. Controller, CAO Novak Christy Lynn went on to Sale 4,575 shares at $23.17 each on Nov 04. An amount of $106,011 was transacted.
Valuation Metrics
NOV Inc. (NOV) has a trailing price-to-earnings (P/E) ratio of 19.35. The stock’s beta is 1.90. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 0.98, the price-to-book (PB) ratio at 1.47.
The company has a payout ratio of 18.80%. The company’s most recent quarterly dividend payment was $0.05 a share, without any change from last year. Its latest decrease dividend $0.41 reported on Thursday May 19 2016.
Financial Health
The quick ratio of NOV Inc. for the three months ended June 29 was 1.40, and the current ratio was 2.40, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.36 and a total debt to equity ratio of 0.36 for the quarter ending June 29. NOV Inc.’s EBITDA margin for the year ending June 29 is 7.69%, while its operating margin for the same period stands at 6.50%. Its gross profit as reported stood at $1.33 billion compared to revenue of $7.24 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, NOV Inc.’s return on assets was 4.10%.
Earnings Surprise
For the three-month period that ended June 29, NOV Inc. had $1.72 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $155.0 million in the quarter, while revenues were grew 55.48%. The analyst consensus anticipated NOV Inc.’s latest quarter earnings to come in at $0.3 per share, but it turned out to be $0.39, a 30.00% surprise. For the quarter, EBITDA amounted to $252.0 million. Shareholders own equity worth $393.78 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at NOV Inc. (NOV) price momentum. RSI 9-day as of the close on 23 August was 56.38%, suggesting the stock is Neutral, with historical volatility in this time frame at 21.34%.
As of today, NOV’s price is $20.38 +0.25% or $0.05 from its 5-day moving average. NOV is currently trading +8.17% higher than its 20-day SMA and +12.40% higher than its 100-day SMA. However, the stock’s current price level is +32.92% above the SMA50 and -10.65% below the SMA200.
The stochastic %K and %D were 55.77% and 58.99%, respectively, and the average true range (ATR) was 0.60. With the 14-day stochastic at 55.51% and the average true range at 0.61, the RSI (14) stands at 60.70%. The stock has reached -0.08 on the 9-day MACD Oscillator while the 14-day reading was at -0.06.
Analyst Ratings
CapitalOne launched coverage on NOV Inc. (NYSE: NOV) in its analyst report released on July 14, 2023. The firm assigned the stock an Equal weight rating. The consensus rating for NOV Inc. (NOV) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell NOV, while 9 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 13 others rate it as a “buy”.
What is NOV’s price target for the next 12 months?
Analysts predict a range of price targets between $18.00 and $30.00, with a median target of $24.00. Taking a look at these predictions, the average price target given by analysts for NOV Inc. (NOV) stock is $24.57.
