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

Ninety One UK Ltd reduced its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 67.8% during the 1st quarter, according to the company in 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 period. Ninety One UK Ltd owned 0.25% of NOV worth $14,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of NOV by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after buying an additional 1,934,243 shares during the period. Geode Capital Management LLC raised its position in NOV by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock valued at $97,815,000 after purchasing an additional 302,009 shares during the period. Ameriprise Financial Inc. increased its position in shares of NOV by 40.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock worth $83,489,000 after acquiring an additional 1,652,917 shares during the period. Greenhaven Associates Inc. increased its position in shares of NOV by 25.0% during the first quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company's stock worth $62,617,000 after acquiring an additional 823,115 shares during the period. Finally, Earnest Partners LLC increased its position in shares of NOV by 0.5% during the fourth quarter. Earnest Partners LLC now owns 3,883,015 shares of the oil and gas exploration company's stock worth $56,692,000 after acquiring an additional 17,871 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Royal Bank Of Canada lowered their target price on shares of NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Susquehanna lowered their target price on shares of NOV from $19.00 to $18.00 and set a "positive" rating for the company in a research note on Tuesday, July 1st. Piper Sandler decreased 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.38.

NOV Price Performance

NOV stock traded up $0.26 during mid-day trading on Thursday, reaching $13.68. The company had a trading volume of 1,184,492 shares, compared to its average volume of 4,115,288. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.65 and a quick ratio of 1.76. The company has a market capitalization of $5.14 billion, a P/E ratio of 9.12, a P/E/G ratio of 3.39 and a beta of 1.28. The stock's 50-day simple moving average is $12.78 and its 200-day simple moving average is $13.76.

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

NOV Dividend Announcement

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

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.