NOV Inc. (NYSE:NOV) Shares Sold by Ninety One UK Ltd

Ninety One UK Ltd lowered its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 67.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 about 0.25% of NOV worth $14,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in NOV during the first quarter valued at approximately $36,000. Exchange Traded Concepts LLC raised its stake in NOV by 382.9% during the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock valued at $277,000 after buying an additional 14,432 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in NOV by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company's stock valued at $44,089,000 after buying an additional 91,800 shares in the last quarter. Signaturefd LLC raised its stake in NOV by 41.3% during 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, GAMMA Investing LLC raised its stake in NOV by 4,053.5% during the first quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company's stock valued at $1,001,000 after buying an additional 64,167 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

NOV has been the subject of several recent research reports. Susquehanna lowered their target price on NOV from $19.00 to $18.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Piper Sandler lowered their target price on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Barclays lowered their target price on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Finally, Royal Bank Of Canada lowered their target price on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $17.38.

NOV Price Performance

NOV traded down $0.12 during trading on Wednesday, reaching $13.39. The stock had a trading volume of 2,587,360 shares, compared to its average volume of 4,117,679. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 3.19 and a beta of 1.28. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The stock has a 50 day moving average of $12.74 and a two-hundred day moving average of $13.77.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The firm had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 9.11% and a net margin of 6.68%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $0.30 earnings per share. As a group, equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were given a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.63%. 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.