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National Oilwell Varco (NYSE:NOV) stock has reached a 52-week low, dipping to $13.77, as the company faces ongoing market headwinds. With a market capitalization of $5.27 billion and trading below book value at a P/B ratio of 0.84, InvestingPro analysis suggests the stock is currently undervalued. Over the past year, NOV has seen its stock value decrease by 22.41%, reflecting broader challenges within the oil and gas sector, including fluctuating commodity prices and evolving energy demands. Despite market pressures, the company maintains strong liquidity with a healthy current ratio of 2.46. Investors are closely monitoring the company’s strategic moves to navigate the current industry landscape and improve its financial performance. InvestingPro subscribers can access 7 additional key insights and a comprehensive Pro Research Report, part of the platform’s coverage of 1,400+ US stocks.
In other recent news, NOV Inc. reported impressive fourth-quarter results, with adjusted earnings of $0.41 per share, surpassing analyst estimates of $0.36. The company’s revenue for the quarter reached $2.31 billion, exceeding the consensus forecast of $2.26 billion. NOV’s operating profit rose by 29% year-over-year to $207 million, while adjusted EBITDA increased by 3% to $302 million. For the full year 2024, the company reported revenue of $8.87 billion, marking a 3% increase from 2023, and net income of $635 million.
In leadership changes, NOV appointed Jose Bayardo as the new President & Chief Operating Officer and Rodney Reed as the Senior Vice President & Chief Financial Officer. RBC Capital Markets recently upgraded NOV’s stock rating to Outperform with a price target of $22, highlighting expectations of above-average EBITDA growth for 2025. Raymond (NSE:RYMD) James also lifted its price target for NOV to $19, maintaining an Outperform rating, citing the company’s strong free cash flow performance and robust order activity. These developments indicate a positive outlook for NOV’s financial health and strategic initiatives aimed at growth and shareholder returns.
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