Neo Ivy Capital Management Has $842,000 Stock Position in NOV Inc. $NOV

Neo Ivy Capital Management lessened its position in shares of NOV Inc. (NYSE:NOV) by 52.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 63,544 shares of the oil and gas exploration company’s stock after selling 70,072 shares during the quarter. Neo Ivy Capital Management’s holdings in NOV were worth $842,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of NOV by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 18,578,053 shares of the oil and gas exploration company’s stock valued at $246,159,000 after purchasing an additional 161,414 shares in the last quarter. American Century Companies Inc. boosted its stake in NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock worth $100,654,000 after buying an additional 2,304,975 shares in the last quarter. First Trust Advisors LP increased its holdings in NOV by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 6,091,095 shares of the oil and gas exploration company’s stock valued at $75,712,000 after buying an additional 1,302,214 shares during the period. Greenhaven Associates Inc. increased its holdings in NOV by 15.4% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,747,682 shares of the oil and gas exploration company’s stock valued at $76,157,000 after buying an additional 765,166 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of NOV by 401.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after buying an additional 2,534,815 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of the business’s stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares of the company’s stock, valued at approximately $5,146,885.52. The trade was a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph W. Rovig sold 151,086 shares of the stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.17, for a total value of $3,047,404.62. Following the sale, the insider owned 269,694 shares in the company, valued at $5,439,727.98. The trade was a 35.91% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.08% of the stock is owned by corporate insiders.

NOV Trading Down 2.0%

Shares of NOV stock opened at $18.58 on Friday. The stock has a market capitalization of $6.70 billion, a P/E ratio of 48.90 and a beta of 0.89. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $15.73. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $20.85.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.23). The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 earnings per share. Research analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from NOV’s previous quarterly dividend of $0.08. NOV’s dividend payout ratio (DPR) is presently 78.95%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NOV shares. Evercore set a $19.00 price objective on shares of NOV in a report on Friday, February 6th. Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Susquehanna reaffirmed a “positive” rating and set a $21.00 price objective on shares of NOV in a report on Friday, February 6th. The Goldman Sachs Group upped their price objective on NOV from $17.00 to $20.00 and gave the company a “sell” rating in a research note on Wednesday. Finally, BMO Capital Markets increased their target price on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.57.

About NOV

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.