NOV Inc. $NOV Shares Bought by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings increased its stake in NOV by 203.9% in the fourth quarter, ending with 85,897 shares valued at about $1.34 million.
• Several other institutions also added to or initiated positions in NOV, and 93.27% of the stock is now owned by institutional investors and hedge funds.
• NOV reported Q1 earnings of $0.05 per share, missing estimates, while revenue matched expectations at $2.05 billion; analysts currently rate the stock a Hold on average with a $19.36 price target.

Crossmark Global Holdings Inc. raised its position in NOV Inc. (NYSE:NOV - Free Report) by 203.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 85,897 shares of the oil and gas exploration company's stock after buying an additional 57,634 shares during the period. Crossmark Global Holdings Inc.'s holdings in NOV were worth $1,343,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in NOV in the 4th quarter worth about $28,000. UMB Bank n.a. boosted its holdings in NOV by 114.1% in the 3rd quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company's stock worth $41,000 after buying an additional 1,657 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in NOV in the 4th quarter worth approximately $68,000. Horizon Investments LLC purchased a new position in NOV in the 4th quarter worth approximately $68,000. Finally, Fifth Third Bancorp lifted its stake in NOV by 88.4% in the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company's stock worth $67,000 after purchasing an additional 2,385 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Craig L. Weinstock sold 70,000 shares of the business's stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the completion of the transaction, the vice president owned 256,319 shares in the company, valued at approximately $5,146,885.52. The trade was a 21.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of the business's stock in a transaction on Monday, February 23rd. The stock was sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the transaction, the insider owned 269,694 shares of the company's stock, valued at approximately $5,439,727.98. The trade was a 35.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.15% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on NOV shares. The Goldman Sachs Group lifted their target price on shares of NOV from $17.00 to $20.00 and gave the company a "sell" rating in a report on Wednesday, March 4th. TD Cowen upgraded shares of NOV from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. Royal Bank Of Canada lifted their target price on shares of NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a report on Wednesday, April 29th. Piper Sandler lifted their target price on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 9th. Finally, Barclays reiterated an "underweight" rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.36.

NOV Stock Performance

NYSE:NOV opened at $20.58 on Wednesday. The company has a fifty day simple moving average of $19.36 and a two-hundred day simple moving average of $17.74. The company has a market cap of $7.39 billion, a price-to-earnings ratio of 85.77 and a beta of 0.92. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. NOV Inc. has a 52 week low of $11.65 and a 52 week high of $20.93.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.The business's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.19 EPS. As a group, equities analysts anticipate that NOV Inc. will post 0.93 earnings per share for the current fiscal year.

NOV Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. This is a positive change from NOV's previous quarterly dividend of $0.08. The ex-dividend date was Friday, March 13th. NOV's payout ratio is presently 150.00%.

NOV Company Profile

National Oilwell Varco NYSE: NOV is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV's business is organized to serve upstream energy companies around the world.

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