Ninety One UK Ltd Cuts Stake in NOV Inc. (NYSE:NOV)

Ninety One UK Ltd trimmed its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 67.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 929,109 shares of the oil and gas exploration company's stock after selling 1,956,595 shares during the quarter. Ninety One UK Ltd owned 0.25% of NOV worth $14,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of NOV. Huntington National Bank boosted its holdings in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 1,034 shares during the last quarter. Covestor Ltd raised its stake in shares of NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 1,655 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NOV during the 1st quarter worth $36,000. Signaturefd LLC raised its stake in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 756 shares during the period. Finally, CoreFirst Bank & Trust bought a new stake in shares of NOV during the 4th quarter worth $41,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NOV. JPMorgan Chase & Co. lowered their target price on NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Barclays lowered their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research note on Thursday, June 5th. Royal Bank Of Canada lowered their price objective on NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley lowered their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $17.38.

NOV Price Performance

Shares of NOV stock traded up $0.35 during trading on Thursday, hitting $13.77. The company had a trading volume of 4,050,961 shares, compared to its average volume of 4,134,671. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average is $12.82 and its two-hundred day moving average is $13.76. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 3.37 and a beta of 1.28. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share 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 9.11% and a net margin of 6.68%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. As a group, analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were given a $0.21 dividend. This represents a dividend yield of 3.63%. The ex-dividend date was Monday, June 2nd. NOV's dividend payout ratio (DPR) is 20.00%.

NOV Company 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.