Wells Fargo slashed price target on NOV Inc. [NOV] – find out why.


nov inc. [NYSE: NOV] Loss -0.65% in the last trading session, at that time the per share price reached $22.98. The Company reports on November 17, 2022 that NOV declares a regular quarterly dividend.


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nov inc. (NYSE: NOV) today announced that its board of directors declared a regular quarterly cash dividend of $0.05 per share of common stock payable on December 23, 2022, to each shareholder of record on December 9, 2022.

Compared to the average trading volume of 3.47M shares, NOV reached a trading volume of 2843551 shares in the most recent trading day, which is why market watchdogs consider the stock active.

Here’s what top equity market gurus are saying about NOV Inc. [NOV],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on a target price for NOV shares is $24.53 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on NOV stock is a recommendation at 2.40. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Wells Fargo has an Assumption for NOV Inc shares on November 07, 2022, keeping its view on the stock as Equal Weight, in line with its previous recommendation. The new Note on Price Target was issued on October 12, 2022, which represents NOV Inc. The official price target for the stock. Earlier, the target price was raised once again to $19, while analysts at BofA Securities maintained a Buy rating on NOV stock.

The Average True Range (ATR) for NOV Inc. is set at 0.87, The Price to Sales ratio for NOV stock over the trailing 12 months period is 1.31. The Price to Book ratio for the previous quarter was 1.85, the Price to Cash per share for the same quarter was set at 2.62.

Trading Performance Analysis for NOV Stock

nov inc. [NOV] Moved into the green zone at the end of last week, in a positive trend and with a gain of 0.39. With this latest performance, NOV shares are up 17.36% over the past four-week period, as well as down 28.24% over the past 6 months — not to mention a 79.25% gain over the past year of trading.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NOV stock for the last two week period is set at 58.78, with the RSI for the last single day of trading at 55.12, and the three week RSI for NOV Inc. for is set at 59.87. [NOV], The current moving average of this stock for last 50 days of trade is 19.51, while it was recorded at 23.31 for last one week of trade and 18.45 for last 200 days.

nov inc. [NOV]: A Deep Dive into Fundamental Analysis

Nov Inc. Equally intriguing is its liquidity data, with a quick ratio of 1.50 and a current ratio set at 2.30.

nov inc. [NOV]: Earnings Per Share (EPS) Analysis

The company’s progress can be viewed through the prism of EPS growth rates, while Wall Street analysts are focusing on predicting 5-year EPS growth rates for NOV. When it comes to quoted price, analysts recommend NOV Inc. The 5 year EPS growth rate for is expected to go up to 41.00%.

Analysis of Insider Ownership on NOV Inc. [NOV]

Institutional investors currently hold approximately $8,568 million or 97.80% of NOV stock in hands. The top three institutional holders of NOV stock are: Vanguard Group Inc with ownership of $38,925,240, which accounts for approximately 0.905% of the company’s market cap and approximately 0.20% of total institutional ownership; BlackRock Inc. holds 36,290,714 shares of NOV stock with an approximate value of $833.96 million in shares; and First Eagle Investment Management, LLC, with $829.58 million in NOV stock currently owning approximately 6.369% of the company’s market capitalization.

154 institutional holders increased their positions in NOV Inc. [NYSE:NOV] By approximately 20,142,325 shares. Additionally, 166 investors reduced positions by approximately 32,668,888 shares, while 71 investors maintained positions by holding 320,051,838 shares. As per the latest SEC report filing, the mentioned changes put the institutional holding at 372,863,051 shares. There were 40 new institutional investments in NOV stock for a total of 2,142,660 shares, while 47 institutional investors sold 17,853,552 shares during the same period.

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