Value Traps or Dirt Cheap Value Stocks? 8 Stocks That Look Extremely Cheap on Paper

6. NOV Inc. (NYSE:NOV)

Median Upside as of July 26: 29%

Forward P/E Ratio: 12.53

Forward EPS Growth (1Y): -18.07%

Number of Hedge Fund Holders: 36

NOV Inc. (NYSE:NOV) is one of the stocks that look extremely cheap on paper. On July 16, 2025, Stifel analyst Stephen Gengaro maintained his Buy rating on NOV, while trimming the price target from $23 to $22, signaling strong conviction in the company’s trajectory even amid modest near‑term adjustments. That target still implies roughly 70% upside from current levels around $13.97, positioning NOV as a top pick for investors hunting undervalued growth in the energy equipment space.

Stifel’s reaffirmation arrives even after a rough stretch for NOV: recent quarterly earnings have disappointed, with flat to declining EPS and softness in demand for drilling and wellbore technology in offshore and land markets. Yet analysts’ continued confidence suggests belief in a recovery, supported by cost discipline, technical momentum, and a rebound in upstream drilling activity.

NOV Inc., formerly National Oilwell Varco, is a Houston-based heavyweight in oilfield services and equipment. Its businesses span Rig Technologies, Wellbore Tech, and supply chain solutions for upstream exploration and production. With global reach across 500+ service centers, it supports the world’s major oil and gas operators through equipment rental, manufacturing, engineering, and digital services.