Ceredex Value Advisors LLC Sells 108,231 Shares of NOV Inc. (NYSE:NOV)

Ceredex Value Advisors LLC trimmed its position in NOV Inc. (NYSE:NOV - Free Report) by 13.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 719,019 shares of the oil and gas exploration company's stock after selling 108,231 shares during the period. Ceredex Value Advisors LLC owned approximately 0.18% of NOV worth $14,582,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in NOV by 1.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company's stock worth $1,020,000 after purchasing an additional 580 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in NOV by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,354 shares of the oil and gas exploration company's stock worth $372,000 after purchasing an additional 1,197 shares during the period. New York State Teachers Retirement System raised its holdings in NOV by 2.2% in the fourth quarter. New York State Teachers Retirement System now owns 515,898 shares of the oil and gas exploration company's stock worth $10,462,000 after purchasing an additional 11,292 shares during the period. International Assets Investment Management LLC raised its holdings in NOV by 1,306.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company's stock worth $71,000 after purchasing an additional 3,240 shares during the period. Finally, Hennessy Advisors Inc. acquired a new stake in NOV in the fourth quarter worth $395,000. Institutional investors own 93.27% of the company's stock.

Insider Transactions at NOV

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.77% of the stock is currently owned by corporate insiders.

NOV Stock Performance

Shares of NYSE NOV traded down $0.13 during mid-day trading on Monday, reaching $20.38. 2,106,932 shares of the company were exchanged, compared to its average volume of 4,588,906. The company's 50-day simple moving average is $18.23 and its 200-day simple moving average is $19.26. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $8.06 billion, a P/E ratio of 8.12, a P/E/G ratio of 0.38 and a beta of 1.74. NOV Inc. has a twelve month low of $14.05 and a twelve month high of $21.91.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.41 by $1.10. The company had revenue of $2.34 billion during the quarter, compared to analysts' expectations of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. NOV's quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 EPS. As a group, research analysts predict that NOV Inc. will post 1.54 earnings per share for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV's dividend payout ratio is presently 7.97%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reiterated a "sector perform" rating and issued a $24.00 target price on shares of NOV in a report on Tuesday, February 6th. ATB Capital set a $33.00 target price on shares of NOV and gave the stock an "outperform" rating in a report on Friday, December 22nd. StockNews.com raised shares of NOV from a "sell" rating to a "hold" rating in a research report on Wednesday, January 31st. Piper Sandler lowered their price objective on shares of NOV from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, February 20th. Finally, Benchmark downgraded shares of NOV from a "buy" rating to a "hold" rating in a research report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $24.36.

About NOV

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.