NOV Inc. $NOV Stock Position Reduced by LSV Asset Management

LSV Asset Management trimmed its position in NOV Inc. (NYSE:NOV) by 3.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,148,100 shares of the oil and gas exploration company’s stock after selling 84,900 shares during the quarter. LSV Asset Management owned approximately 0.59% of NOV worth $28,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in NOV. CoreFirst Bank & Trust bought a new stake in NOV during the second quarter valued at $35,000. UMB Bank n.a. boosted its holdings in shares of NOV by 114.1% in the 3rd quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,657 shares during the period. Hantz Financial Services Inc. grew its position in shares of NOV by 395.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 2,921 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in NOV during the second quarter worth about $80,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in NOV by 33.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock worth $82,000 after acquiring an additional 1,658 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Christian S. Kendall acquired 70,000 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were bought at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the purchase, the director owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This represents a 438.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.08% of the company’s stock.

NOV Price Performance

Shares of NYSE NOV opened at $19.21 on Friday. The stock has a market cap of $7.01 billion, a P/E ratio of 50.55 and a beta of 0.93. The firm’s 50-day simple moving average is $17.30 and its 200 day simple moving average is $14.92. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $19.60. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last released its earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.23). The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.41 EPS. Equities analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s dividend payout ratio (DPR) is presently 78.95%.

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of research reports. Morgan Stanley set a $16.00 price target on NOV in a research report on Monday, December 15th. Evercore ISI set a $19.00 target price on NOV in a research report on Friday, February 6th. Citigroup raised their target price on NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Piper Sandler upped 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Six analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.40.

NOV 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.