Vest Financial LLC Takes $2.40 Million Position in NOV Inc. (NYSE:NOV)

Vest Financial LLC bought a new position in NOV Inc. (NYSE:NOV - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 157,496 shares of the oil and gas exploration company's stock, valued at approximately $2,397,000.

A number of other institutional investors have also added to or reduced their stakes in NOV. Mariner LLC increased its stake in NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after purchasing an additional 672 shares during the period. Signaturefd LLC raised its stake in shares of 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 acquiring an additional 756 shares during the last quarter. Huntington National Bank raised its position 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 valued at $32,000 after purchasing an additional 1,034 shares during the last quarter. ProShare Advisors LLC lifted its stake in NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock worth $266,000 after acquiring an additional 1,042 shares during the period. Finally, Coppell Advisory Solutions LLC lifted its position in shares of NOV by 20.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after purchasing an additional 1,225 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. lowered their target price on NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. Wells Fargo & Company decreased their price target on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday. Stifel Nicolaus lowered their price objective on shares of NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Piper Sandler dropped their target price on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank of Canada dropped their price target on shares of NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Three research 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. According to data from MarketBeat.com, NOV currently has an average rating of "Hold" and a consensus price target of $17.44.

NOV Price Performance

Shares of NOV traded up $0.25 during midday trading on Monday, hitting $12.87. 3,221,921 shares of the company traded hands, compared to its average volume of 3,992,353. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 7.99, a PEG ratio of 1.02 and a beta of 1.28. The firm has a 50 day moving average of $12.31 and a 200-day moving average of $14.08. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. 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 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 business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.30 earnings per share. On average, analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

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