Y Intercept Hong Kong Ltd Sells 31,917 Shares of NOV Inc. (NYSE:NOV)

Key Points

• Y Intercept Hong Kong Ltd has reduced its stake in NOV Inc. by 40.8%, selling 31,917 shares, which leaves them with 46,271 shares valued at approximately $704,000.
• Several institutional investors, including Pzena Investment Management LLC and Dimensional Fund Advisors LP, have increased their positions in NOV, indicating a mixed sentiment among major investors.
• NOV's quarterly earnings report revealed an EPS of $0.19, missing estimates, and a 2.4% decline in revenue compared to the previous year, leading to multiple price target downgrades from analysts.

Y Intercept Hong Kong Ltd cut its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 40.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,271 shares of the oil and gas exploration company's stock after selling 31,917 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in NOV were worth $704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC boosted its position in shares of NOV by 0.3% during the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock valued at $632,610,000 after buying an additional 106,011 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of NOV by 13.0% during the fourth 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 last quarter. Geode Capital Management LLC boosted its position in shares of NOV by 4.7% during 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 buying an additional 302,009 shares during the last quarter. Ameriprise Financial Inc. boosted 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 valued at $83,489,000 after buying an additional 1,652,917 shares during the last quarter. Finally, Greenhaven Associates Inc. boosted 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 valued at $62,617,000 after buying an additional 823,115 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NOV. Wells Fargo & Company dropped their price objective on NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, June 5th. 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. Royal Bank Of Canada dropped their target price on NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Susquehanna dropped their target price on NOV from $19.00 to $18.00 and set a "positive" rating on the stock in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus dropped their target price on NOV from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, July 16th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $17.31.

NOV Stock Up 1.9%

NYSE NOV opened at $13.97 on Friday. The stock's 50-day moving average price is $12.97 and its 200-day moving average price is $13.65. 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 52 week low of $10.84 and a 52 week high of $21.20. The company has a market capitalization of $5.25 billion, a P/E ratio of 9.31, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28.

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

NOV Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were paid a dividend of $0.21 per share. This represents a yield of 3.63%. The ex-dividend date was Monday, June 2nd. NOV's dividend payout ratio (DPR) is presently 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.

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