Ethic Inc. Has $1.14 Million Stake in NOV Inc. (NYSE:NOV)

Ethic Inc. lessened its holdings in NOV Inc. (NYSE:NOV - Free Report) by 31.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,862 shares of the oil and gas exploration company's stock after selling 36,135 shares during the period. Ethic Inc.'s holdings in NOV were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Mariner LLC lifted its position in shares of NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock valued at $353,000 after acquiring an additional 672 shares during the period. Signaturefd LLC lifted its stake in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Huntington National Bank grew its holdings in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of NOV by 20.1% in the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after purchasing an additional 1,225 shares during the last quarter. Finally, Verum Partners LLC raised its position in shares of NOV by 9.0% during the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock worth $220,000 after acquiring an additional 1,248 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Trading Down 1.9%

NOV traded down $0.24 during trading on Monday, hitting $12.60. 331,505 shares of the company's stock were exchanged, compared to its average volume of 3,948,339. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.73 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The stock has a 50 day moving average price of $13.09 and a 200 day moving average price of $14.48.

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

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.38%. NOV's dividend payout ratio (DPR) is currently 20.00%.

Wall Street Analysts Forecast Growth

NOV has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of NOV from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. The Goldman Sachs Group cut their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Piper Sandler reduced their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Susquehanna decreased their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Finally, Morgan Stanley cut their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, NOV currently has an average rating of "Hold" and an average target price of $17.50.

About NOV

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.