In yesterday’s Wall Street session, NOV Inc (NYSE:NOV) shares traded at $18.68, up 0.97% from the previous session.
NOV stock price is now 0.93% away from the 50-day moving average and -1.31% away from the 200-day moving average. The market capitalization of the company currently stands at $7.36B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $31 to $30, TD Cowen maintained Outperform rating for NOV Inc (NYSE: NOV). , while ‘JP Morgan’ rates the stock as ‘Overweight’
In other news, Novak Christy Lynn, VP, Corp. Controller, CAO sold 3,500 shares of the company’s stock on Feb 22 ’24. The stock was sold for $60,988 at an average price of $17.43. Upon completion of the transaction, the VP, Corp. Controller, CAO now directly owns 114,212 shares in the company, valued at $2.13 million. A total of 0.91% of the company’s stock is owned by insiders.
During the past 12 months, NOV Inc has had a low of $14.05 and a high of $21.91. As of last week, the company has a debt-to-equity ratio of 0.39, a current ratio of 2.40, and a quick ratio of 1.51. According to the stock market information, the enterprise value for the company is $8.92B, which is based on a 7.46 price-to-earnings ratio, a 0.23 price-to-earnings-growth ratio, and a beta of 1.74. The fifty day moving average price for NOV is $18.48 and a two-hundred day moving average price translates $18.95 for the stock.
The latest earnings results from NOV Inc (NYSE: NOV) was released for Dec, 2023. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.28, missing analysts’ expectations of $0.41 by -0.13. This compares to $0.25 EPS in the same period last year. The net profit margin was 11.58% and return on equity was 17.63% for NOV. The company reported revenue of $2.34 billion for the quarter, compared to $2.07 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 13.02 percent. For the current quarter, analysts expect NOV to generate $2.12B in revenue.
NOV Inc(NOV) Company Profile
NOV Inc. designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits. It also offers equipment and technologies for hydraulic fracture stimulation, including downhole multistage fracturing tools, pressure pumping trucks, blenders, sanders, hydration and injection units, flowline, and manifolds; coiled tubing units, and wireline units and tools; connections and liner hangers; onshore production consists of composite pipe, surface transfer and progressive cavity pumps, and artificial lift systems; and offshore production, such as floating production systems and subsea production technologies, as well as manufactures industrial pumps and mixers. In addition, the company provides substructures, derricks, and masts; cranes; jacking systems; pipe lifting, racking, rotating, and assembly systems; mud pumps; pressure control equipment; drives and generators; rig instrumentation and control systems; mooring, anchor, and deck handling machinery; equipment components for offshore wind construction vessels; and pipelay and construction systems. Further, the company offers spare parts, repair, and rentals as well as comprehensive remote equipment monitoring, technical support, field service, and customer training. The company was formerly known as National Oilwell Varco, Inc. and changed its name to NOV Inc. in January 2021. NOV Inc. was founded in 1862 and is based in Houston, Texas.
