why NOV Inc. [NOV] is a Good Choice for Investors After New Price Target of $22.00
nov . company [NYSE: NOV] The trading session closed at $14.85 on 09/22/22. Today’s price range saw the stock record a low of $14.81 while the highest was $15.41. Company report on September 8, 2022 NOV is announcing an earnings call for the third quarter of 2022.
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NOV Inc. will hold (NYSE: NOV) conference call to discuss third-quarter 2022 results on Friday, October 28, 2022, at 10 a.m. (Central time). NOV will release a press release with the company’s results after the market closes for trading on Thursday, October 27, 2022. The call will be broadcast live online at www.nov.com/investors.
The stocks have an annual performance of 9.59 percent and a weekly performance of -10.81 percent. The stock has moved at -22.49 percent over the past six months. The stock has performed -20.42 percent in the last 30 days and changed -14.26 percent over the last three months.
If compared to the average trading volume of 3.37 million shares, NOV reached a volume of 4,066,686 on the last trading day, which is why market watchers consider the stock to be active.
Here’s what leading stock market gurus are saying about NOV Inc. [NOV]:
Based on accurate, fact-backed analyzes by Wall Street experts, the current consensus on NOV’s stock price target is $22.00 per share. Target price analysis and stock performance are usually carefully studied by market experts, and the current Wall Street consensus for NOV stock is a set recommendation at 2.30. This rating represents a strong buy recommendation, on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 represents hold, and 2 indicates buy.
The Benchmark Company has made an appreciation for the shares of NOV Inc. , retaining their opinion of the stock as hold, with their previous recommendation back on August 25, 2022. While these analysts held the previous recommendation, BofA Securities raised its target price from $10 to $15. The new note about price target was released on July 29, 2022, which is the official target price for NOV Inc.’s stock. Previously, the target price had received another increase to $26, while Griffin Securities analysts maintained a buy rating on NOV stock. On March 14, 2022, analysts lowered their price target for NOV shares from 22 to 21.
The Average True Range (ATR) is set by NOV Inc. at 0.76, with a price-to-sales ratio for NOV stock in the past 12-month period at 1.04. The price-to-book ratio for the last quarter was 1.18, with the price-to-cash ratio for the stock in the same quarter set at 2.84.
NOV . Stock Trading Performance Evaluation
nov . company [NOV] It fell into the red at the end of last week, fell in a negative direction and fell by -10.81. With this latest performance, NOV shares are down -20.42% over the past four-week period, as well as down -22.49% over the past six months — not to mention a 10.41% rise in the past year of trading.
Overbought and oversold stocks can be easily tracked by the Relative Strength Index (RSI), where an RSI result of over 70 is overbought, and any price below 30 indicates oversold conditions. The RSI of 50 represents neutral momentum in the market. The current RSI for NOV stock for the past two weeks was set at 32.38, with the RSI for the last one trading at 26.45, and the three-week RSI for NOV Inc. [NOV]. The current moving average for the last 50 trading days for this stock is 17.18 while it recorded at 15.55 for the last trading week, and 17.41 for the last 200 days.
nov . company [NOV]: Insight into the basic fundamentals
Operating margin for any stock indicates how profitable the investment is, and NOV Inc. [NOV] The stock currently has an operating margin of -2.26 and a gross margin of +14.17. Net margin reported to NOV Inc. Currently at -4.52.
The return on equity for this stock fell to -4.90, with the return on assets remaining at -2.51.
The liquidity data of NOV Inc. Interesting too, with the quick ratio at 1.60 and the current ratio at 2.30.
Earnings per share (EPS) analysis for NOV Inc. [NOV] stock
The company’s progress can be seen through the prism of EPS growth, while Wall Street analysts focus on forecasting a 5-year EPS growth rate for NOV. When it comes to the stated value, analysts expect NOV Inc.’s 5-year EPS growth rate to rise. to 41.00%.
nov . company [NOV]: Insiders ownership positions
There are currently approximately $5,766 million in the hands of institutional investors. The three largest institutional owners of NOV shares are: VANGUARD GROUP INC with 38,576,215 ownership, which is approximately 1.155% of the company’s market capitalization and approximately 0.20% of the total institutional ownership; PZENA INVESTMENT MANAGEMENT LLC, which owns 36,845,885 shares with an approximate value of $547.16 million in NOV stock; and BLACKROCK INC. , currently holds $543.96 million in NOV shares with ownership of approximately 0.843% of the company’s market capitalization.
Positions in NOV Inc shares increased. held by institutional investors at the end of July and at the time of the July report, as 167 institutional owners consolidated their position in NOV Inc. [NYSE:NOV] About 28145117 shares. In addition, the number of 160 investors decreased by about 25,947,921 shares, while 76 investors held positions with 334,160,321 shares. The said changes put institutional holdings at 3,882,53,359 shares, according to the latest report from the Securities and Exchange Commission. NOV shares had 49 new institutional investors for a total of 4,340,400 shares, while 44 institutional investors sold positions totaling 4,355,651 shares during the same period.