NOV Inc. (NYSE:NOV) Stock Position Cut by Ninety One UK Ltd

Ninety One UK Ltd cut its position in shares of NOV Inc. (NYSE:NOV) by 4.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,309,504 shares of the oil and gas exploration company’s stock after selling 156,533 shares during the quarter. Ninety One UK Ltd owned 0.84% of NOV worth $67,117,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of NOV. JPMorgan Chase & Co. grew its holdings in NOV by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock worth $14,961,000 after acquiring an additional 108,845 shares during the period. Raymond James & Associates grew its stake in shares of NOV by 15.4% in the 1st quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock worth $3,449,000 after purchasing an additional 23,430 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of NOV by 8.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock worth $273,000 after purchasing an additional 1,079 shares in the last quarter. US Bancorp DE lifted its stake in NOV by 2.0% during the first quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock valued at $777,000 after purchasing an additional 788 shares during the last quarter. Finally, HighTower Advisors LLC boosted its holdings in NOV by 7.8% during the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock worth $801,000 after buying an additional 2,962 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NOV. Stifel Nicolaus dropped their price target on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna reissued a “positive” rating and issued a $26.00 price target on shares of NOV in a research note on Monday, April 8th. Raymond James cut their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Finally, ATB Capital set a $33.00 target price on shares of NOV and gave the stock an “outperform” rating in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.36.

NOV Stock Up 0.4 %

Shares of NYSE NOV traded up $0.08 during trading hours on Thursday, hitting $18.55. The stock had a trading volume of 840,860 shares, compared to its average volume of 4,302,246. The firm’s 50-day moving average price is $18.39 and its two-hundred day moving average price is $19.20. NOV Inc. has a 52 week low of $14.05 and a 52 week high of $21.91. The company has a market capitalization of $7.34 billion, a P/E ratio of 7.42, a P/E/G ratio of 0.82 and a beta of 1.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40.

NOV (NYSE:NOV) last released its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $1.10. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. NOV’s revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.26 EPS. Analysts anticipate that NOV Inc. will post 1.52 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.08%. NOV’s dividend payout ratio (DPR) is currently 7.97%.

About NOV

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.