SG Americas Securities LLC decreased its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 84.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,481 shares of the oil and gas exploration company's stock after selling 235,131 shares during the period. SG Americas Securities LLC's holdings in NOV were worth $664,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. Ameriprise Financial Inc. lifted its stake in NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company's stock worth $39,347,000 after purchasing an additional 2,534,815 shares during the period. American Century Companies Inc. increased its holdings in shares of NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company's stock worth $100,654,000 after buying an additional 2,304,975 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of NOV during the third quarter worth approximately $14,114,000. Voloridge Investment Management LLC increased its holdings in shares of NOV by 361.8% during the third quarter. Voloridge Investment Management LLC now owns 1,252,182 shares of the oil and gas exploration company's stock worth $16,591,000 after buying an additional 981,028 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of NOV by 15.1% during the third quarter. First Trust Advisors LP now owns 7,008,337 shares of the oil and gas exploration company's stock worth $92,860,000 after buying an additional 917,242 shares in the last quarter. Institutional investors own 93.27% of the company's stock.
NOV Stock Performance
Shares of NOV stock opened at $19.48 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. The firm has a market cap of $7.02 billion, a P/E ratio of 51.27 and a beta of 0.94. The firm has a 50 day simple moving average of $19.21 and a 200 day simple moving average of $16.77. NOV Inc. has a fifty-two week low of $11.26 and a fifty-two week high of $20.85.
NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.23). The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.41 EPS. Sell-side analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.
NOV Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.09 dividend. This is an increase from NOV's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, March 13th. NOV's dividend payout ratio (DPR) is 94.74%.
Insider Buying and Selling
In related news, VP Craig L. Weinstock sold 70,000 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $20.08, for a total value of $1,405,600.00. Following the completion of the sale, the vice president owned 256,319 shares of the company's stock, valued at $5,146,885.52. This trade represents a 21.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of the firm's stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the completion of the sale, the insider directly owned 269,694 shares of the company's stock, valued at approximately $5,439,727.98. This represents a 35.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.08% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price objective on shares of NOV from $17.00 to $20.00 and gave the stock a "sell" rating in a report on Wednesday, March 4th. Piper Sandler boosted their price objective on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, February 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $21.00 price objective on shares of NOV in a research note on Thursday, January 15th. TD Cowen lowered NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Finally, Morgan Stanley set a $16.00 price objective on NOV in a research note on Monday, December 15th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, NOV presently has a consensus rating of "Hold" and an average target price of $18.64.
Read Our Latest Research Report on NOV
NOV Company Profile
(
Free Report)
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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