Top investors say NOV Inc. (NOV) ticks everything they need

NOV Inc. (NYSE: NOV) stock jumped 0.71% on Wednesday to $15.63 against a previous-day closing price of $15.52. With 3.18 million shares changed hands, the volume of the stock remained lighter than its average volume of 4.83 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $15.72 whereas the lowest price it dropped to was $15.39. The 52-week range on NOV shows that it touched its highest point at $24.83 and its lowest point at $13.98 during that stretch. It currently has a 1-year price target of $25.44. With its current market cap of 6.19 billion, NOV has annualized dividend of $0.20 while the current yield stands at 1.28%. Beta for the stock currently stands at 1.90.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NOV was up-trending over the past week, with a rise of 4.20%, but this was down by -14.07% over a month. Three-month performance dropped to -28.17% while six-month performance fell -29.82%. The stock lost -16.91% in the past year, while it has lost -25.18% so far this year. A look at the trailing 12-month EPS for NOV yields 0.84 with Next year EPS estimates of 1.68. For the next quarter, that number is 0.30. This implies an EPS growth rate of 160.70% for this year and 23.82% for next year. EPS is expected to grow by 36.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 18.20%.

Float and Shares Shorts:

At present, 392.00 million NOV shares are outstanding with a float of 390.23 million shares on hand for trading. On Apr 27, 2023, short shares totaled 12.2 million, which was 3.10% higher than short shares on Mar 30, 2023. In addition to Mr. Clay C. Williams as the firm’s Chairman, Pres & CEO, Mr. Jose A. Bayardo serves as its Sr. VP & CFO.

Institutional Ownership:

Through their ownership of 94.48% of NOV’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.01% of NOV, in contrast to 34.20% held by mutual funds. Shares owned by individuals account for 0.94%. As the largest shareholder in NOV with 9.78% of the stake, The Vanguard Group, Inc. holds 38,413,934 shares worth 38,413,934. A second-largest stockholder of NOV, First Eagle Investment Management, holds 37,197,552 shares, controlling over 9.47% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in NOV, holding 32,363,620 shares or 8.24% stake. With a 6.85% stake in NOV, the First Eagle Global Fund is the largest stakeholder. A total of 26,905,276 shares are owned by the mutual fund manager. The iShares Core S&P Mid Cap ETF, which owns about 3.12% of NOV stock, is the second-largest Mutual Fund holder. It holds 12,257,569 shares valued at 205.31 million. Vanguard Total Stock Market ETF holds 3.12% of the stake in NOV, owning 12,246,595 shares worth 205.13 million.


An Overview of Recent Financials:

Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, NOV reported revenue of $1.73B and operating income of $68.00M. The EBITDA in the recently reported quarter was $162.00M and diluted EPS was $0.18.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NOV since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NOV analysts setting a high price target of $30.00 and a low target of $17.00, the average target price over the next 12 months is $24.48. Based on these targets, NOV could surge 91.94% to reach the target high and rise by 8.77% to reach the target low. Reaching the average price target will result in a growth of 56.62% from current levels.


EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded NOV stock several times over the past three months with 1 Buys and 11 Sells. In these transactions, 5,404 shares were bought while 60,461 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 36 over the past year. The total number of shares bought during that period was 548,641 while 279,024 shares were sold.

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