NOV Inc. (NYSE:NOV) Short Interest Update

NOV Inc. (NYSE:NOV - Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 21,190,000 shares, a drop of 14.6% from the March 15th total of 24,800,000 shares. Based on an average daily trading volume, of 4,770,000 shares, the days-to-cover ratio is presently 4.4 days. Approximately 5.6% of the shares of the stock are sold short.

NOV Trading Down 0.1 %

NOV traded down $0.01 during trading on Friday, reaching $12.33. 659,065 shares of the stock traded hands, compared to its average volume of 3,877,072. The stock's 50-day moving average is $13.89 and its 200 day moving average is $14.87. NOV has a 12 month low of $10.84 and a 12 month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.67 billion, a PE ratio of 7.66, a P/E/G ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities analysts anticipate that NOV will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.43%. NOV's dividend payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on NOV. Stifel Nicolaus dropped their target price on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Susquehanna dropped their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Barclays boosted their target price on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. 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 note on Wednesday, January 15th. Finally, Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, NOV currently has an average rating of "Hold" and a consensus price target of $19.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mariner LLC raised its holdings in shares of NOV by 2.9% during the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock valued at $353,000 after purchasing an additional 672 shares during the period. Signaturefd LLC raised its stake in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 756 shares during the period. Huntington National Bank boosted its holdings in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after acquiring an additional 1,034 shares in the last quarter. ProShare Advisors LLC grew 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 valued at $266,000 after acquiring an additional 1,042 shares during the period. Finally, Coppell Advisory Solutions LLC increased its holdings in shares of NOV by 20.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock valued at $106,000 after acquiring an additional 1,225 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

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.