Hsbc Holdings PLC Trims Stock Holdings in NOV Inc. (NYSE:NOV)

Hsbc Holdings PLC decreased its stake in NOV Inc. (NYSE:NOV - Free Report) by 13.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 488,299 shares of the oil and gas exploration company's stock after selling 76,238 shares during the period. Hsbc Holdings PLC owned 0.13% of NOV worth $7,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock valued at $179,718,000 after buying an additional 12,210,514 shares during the last quarter. First Pacific Advisors LP purchased a new stake in NOV in the 4th quarter worth about $39,495,000. Dimensional Fund Advisors LP raised its stake in NOV by 13.0% in 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 acquiring an additional 1,934,243 shares during the period. Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in NOV by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after purchasing an additional 938,866 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Price Performance

Shares of NOV stock traded up $0.39 on Friday, hitting $12.27. 3,657,859 shares of the company traded hands, compared to its average volume of 3,914,559. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.61 billion, a P/E ratio of 7.62, a P/E/G ratio of 1.02 and a beta of 1.27. The firm's 50-day simple moving average is $13.50 and its 200 day simple moving average is $14.69.

NOV (NYSE:NOV - Get Free Report) last released its quarterly 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). NOV had a net margin of 7.16% and a return on equity of 9.88%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The company's revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio is currently 20.00%.

Analysts Set New Price Targets

A number of analysts recently commented on NOV shares. Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research note 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. Evercore ISI reiterated an "in-line" rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn lowered NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Finally, Barclays cut their target price on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $18.00.

NOV Company 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.