NOV Inc. (NYSE:NOV) has a beta value of 1.87 and has seen 4.42 million shares traded in the last trading session. The company, currently valued at $8.95B, closed the last trade at $23.40 per share which meant it gained $0.59 on the day or 2.59% during that session. The NOV stock price is -3.63% off its 52-week high price of $24.25 and 40.26% above the 52-week low of $13.98. If we look at the company’s 10-day average daily trading volume, we find that it stood at 3.59 million shares traded. The 3-month trading volume is 3.15 million shares.
The consensus among analysts is that NOV Inc. (NOV) is an Overweight stock at the moment, with a recommendation rating of 2.20. 1 analysts rate the stock as a Sell, while 1 rate it as Overweight. 9 out of 25 have rated it as a Hold, with 14 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.2.
NOV Inc. (NYSE:NOV) trade information
Sporting 2.59% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the NOV stock price touched $23.40 or saw a rise of 2.86%. Year-to-date, NOV Inc. shares have moved 12.02%, while the 5-day performance has seen it change -0.72%. Over the past 30 days, the shares of NOV Inc. (NYSE:NOV) have changed 14.26%. Short interest in the company has seen 13.36 million shares shorted with days to cover at 3.86.
Wall Street analysts have a consensus price target for the stock at $25.68, which means that the shares’ value could jump 8.88% from current levels. The projected low price target is $18.00 while the price target rests at a high of $32.00. In that case, then, we find that the current price level is -36.75% off the targeted high while a plunge would see the stock lose 23.08% from current levels.
NOV Inc. (NOV) estimates and forecasts
Figures show that NOV Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 51.26% over the past 6 months, with this year growth rate of 187.76%, compared to 12.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 385.70% and 230.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 40.20%.
11 analysts offering their estimates for the company have set an average revenue estimate of $1.9 billion for the current quarter. 9 have an estimated revenue figure of $1.8 billion for the next quarter concluding in Mar 2023. Year-ago sales stood $1.37 billion and $1.47 billion respectively for this quarter and the next, and analysts expect sales will grow by 38.30% for the current quarter and 22.60% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 36.80% over the past 5 years.
NOV Inc. is expected to release its next earnings report between February 01 and February 06 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.20 at a share yield of 0.85%. The company’s dividend yield has gone up over the past 12 months.
NOV Inc. (NYSE:NOV)’s Major holders
Insiders own 0.66% of the company shares, while shares held by institutions stand at 99.97% with a share float percentage of 100.63%. Investors are also buoyed by the number of investors in a company, with NOV Inc. having a total of 483 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 38.58 million shares worth more than $652.32 million. As of Jun 29, 2022, Vanguard Group, Inc. (The) held 9.82% of shares outstanding.
The other major institutional holder is Pzena Investment Management Llc, with the holding of over 36.85 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $623.06 million and represent 9.38% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are First Eagle Global Fund and Vanguard Total Stock Market Index Fund. As of Jul 30, 2022, the former fund manager holds about 6.56% shares in the company for having 25.76 million shares of worth $479.35 million while later fund manager owns 11.57 million shares of worth $195.7 million as of Jun 29, 2022, which makes it owner of about 2.95% of company’s outstanding stock.