NOV Inc. (NYSE:NOV) Stock Holdings Trimmed by Bank of America Corp DE

Bank of America Corp DE cut its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 9.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,127,652 shares of the oil and gas exploration company's stock after selling 320,072 shares during the quarter. Bank of America Corp DE owned about 0.80% of NOV worth $45,664,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 1,034 shares in the last quarter. Covestor Ltd grew its stake in shares of NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after buying an additional 1,655 shares in the last quarter. UMB Bank n.a. grew its stake in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 1,612 shares in the last quarter. Signaturefd LLC grew its stake in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after buying an additional 756 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of NOV in the fourth quarter valued at about $42,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NOV. The Goldman Sachs Group lowered their price objective on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Barclays lowered their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company raised their price objective on NOV from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Raymond James raised their price objective on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, NOV currently has an average rating of "Hold" and an average price target of $17.50.

NOV Stock Performance

NYSE:NOV traded down $0.10 during trading hours on Friday, reaching $12.81. 4,884,292 shares of the stock were exchanged, compared to its average volume of 3,962,582. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $13.09 and a 200-day simple moving average of $14.49. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The stock has a market capitalization of $4.81 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.30 EPS. As a group, sell-side analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio (DPR) is 20.00%.

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.