NOV (NYSE:NOV) VP Sells $1,405,600.00 in Stock

NOV Inc. (NYSE:NOV) VP Craig Weinstock sold 70,000 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the sale, the vice president owned 256,319 shares in the company, valued at $5,146,885.52. This represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

NOV Trading Up 0.2%

Shares of NYSE NOV opened at $20.20 on Friday. The business’s 50 day moving average is $18.02 and its two-hundred day moving average is $15.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $20.85. The stock has a market capitalization of $7.28 billion, a P/E ratio of 53.16 and a beta of 0.93.

NOV (NYSE:NOV) last announced its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The company had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.17 billion. NOV had a return on equity of 3.57% and a net margin of 1.66%.NOV’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.41 EPS. As a group, research analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. This is a positive change from NOV’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 13th. NOV’s dividend payout ratio (DPR) is presently 78.95%.

Institutional Trading of NOV

Institutional investors have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in NOV in the 4th quarter worth approximately $28,000. CoreFirst Bank & Trust acquired a new stake in shares of NOV during the second quarter worth $35,000. CIBC Private Wealth Group LLC grew its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 1,978 shares during the last quarter. Rothschild Investment LLC increased its position in shares of NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares during the period. Finally, Allworth Financial LP raised its stake in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 709 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Argus raised shares of NOV to a “hold” rating in a research note on Tuesday, February 10th. Stifel Nicolaus boosted their target price on NOV from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, February 6th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $17.00 target price on shares of NOV in a research note on Wednesday, January 14th. BMO Capital Markets raised their price target on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Finally, Evercore set a $19.00 price objective on NOV in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average target price of $18.36.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.