Citigroup cuts target for NOV stock from USD 22.00 to USD 21.00

Published on 10/08/2026 at 18:48 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Adjusted earnings were USD 0.31 versus USD 0.17 consensus in second quarter. NOV stock was EUR 16.95 on October 8, 2026, versus EUR 16.65.

Key points in brief

Citigroup cut NOV's target from USD 22.00 to USD 21.00 on September 30, 2026 while keeping a Neutral rating.
Adjusted earnings were USD 0.31 in the second quarter of 2026 versus USD 0.17 consensus; revenue was USD 2.13 billion, down 2.50 percent year over year.
NOV stock was at EUR 16.95 at Lang & Schwarz on October 8, 2026, plus 1.80 percent versus the EUR 16.65 prior close.

NOV, US62955J1034, Illustration mit AI erstellt.

NOV stock (ISIN US62955J1034) was at EUR 16.95 at Lang & Schwarz on October 8, 2026 at 6:39 p.m. CEST, while the latest analyst action came from Citigroup. Citigroup cut its target from USD 22.00 to USD 21.00 on September 30, 2026, while keeping a Neutral rating, according to MarketBeat.

Three recent events and figures

NOV reported adjusted earnings of USD 0.31 per share and revenue of USD 2.13 billion for the second quarter of 2026 on July 28, 2026. The earnings figure exceeded the USD 0.17 consensus, while revenue declined 2.50 percent year over year, according to MarketBeat.

On August 19, 2026, NOV declared a regular quarterly dividend of USD 0.09 per share, according to NOV. On September 16, 2026, the company announced that it would discuss third-quarter results on October 28, 2026, after releasing the results on October 27, 2026.

What do the results mean for margins?

The second-quarter numbers show a mixed operating picture. Revenue of USD 2.13 billion was lower by 2.50 percent year over year, but adjusted earnings of USD 0.31 per share were USD 0.14 above the USD 0.17 consensus. That combination puts execution and cost control ahead of simple revenue growth in the next report.

NOV's cash balance stood at USD 1.164 billion at June 30, 2026, while operating cash flow was USD 17.0 million in the second quarter of 2026. The company serves oil and gas drilling and production markets through its Energy Equipment and Energy Products and Services businesses.

Results dates set for October

NOV's investor-relations calendar lists October 27, 2026 for the third-quarter results release and October 28, 2026 for the earnings conference call, according to NOV. The dates give investors a defined checkpoint for testing the company's expectation of improved sequential performance.

After-hours price rises 1.80 percent

NOV was trading at EUR 16.95 at Lang & Schwarz on October 8, 2026 at 6:39 p.m. CEST, plus 1.80 percent versus the EUR 16.65 prior close at Lang & Schwarz on October 7, 2026. On the NYSE, the stock was at USD 18.95 at 12:47 p.m. EDT on October 8, 2026, while its 52-week range was USD 12.29 to USD 21.93.

The further course of trading is shown by the continuously updated real-time quote of NOV stock.