NOV Inc. (NYSE:NOV) Shares Sold by River Global Investors LLP

River Global Investors LLP cut its holdings in shares of NOV Inc. (NYSE:NOV) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,754 shares of the oil and gas exploration company’s stock after selling 819 shares during the quarter. River Global Investors LLP’s holdings in NOV were worth $1,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NOV. CENTRAL TRUST Co boosted its holdings in NOV by 85.4% in the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 580 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of NOV in the 4th quarter worth approximately $49,000. GAMMA Investing LLC acquired a new position in shares of NOV in the 4th quarter worth approximately $61,000. International Assets Investment Management LLC lifted its holdings in shares of NOV by 1,306.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after acquiring an additional 3,240 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of NOV by 27.8% in the 3rd quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company’s stock worth $104,000 after acquiring an additional 1,086 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on NOV. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Tuesday, February 6th. Raymond James cut their target price on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Susquehanna reaffirmed a “positive” rating and set a $26.00 target price on shares of NOV in a research note on Monday, April 8th. Piper Sandler cut their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Finally, Stifel Nicolaus cut their target price on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $24.07.

NOV Stock Down 0.1 %

Shares of NYSE NOV traded down $0.02 during mid-day trading on Friday, reaching $18.54. The company had a trading volume of 2,101,016 shares, compared to its average volume of 3,306,391. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The firm has a 50 day simple moving average of $18.74 and a two-hundred day simple moving average of $19.10. The stock has a market cap of $7.33 billion, a P/E ratio of 7.45, a PEG ratio of 0.79 and a beta of 1.74. NOV Inc. has a 52-week low of $14.05 and a 52-week high of $21.91.

NOV (NYSE:NOV) last posted its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.32 EPS. Sell-side analysts predict that NOV Inc. will post 1.54 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is currently 8.03%.

NOV Profile

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.