Ninety One UK Ltd Cuts Position in NOV Inc. (NYSE:NOV)

Ninety One UK Ltd lowered its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,309,504 shares of the oil and gas exploration company's stock after selling 156,533 shares during the period. Ninety One UK Ltd owned 0.84% of NOV worth $67,117,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in NOV by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 38,925,240 shares of the oil and gas exploration company's stock worth $629,810,000 after purchasing an additional 349,025 shares in the last quarter. BlackRock Inc. boosted its position in shares of NOV by 0.8% in the first quarter. BlackRock Inc. now owns 37,748,140 shares of the oil and gas exploration company's stock valued at $698,718,000 after acquiring an additional 284,784 shares during the period. FMR LLC grew its stake in NOV by 30.9% during the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company's stock valued at $386,962,000 after acquiring an additional 4,369,540 shares in the last quarter. State Street Corp grew its stake in NOV by 3.8% during the second quarter. State Street Corp now owns 14,141,887 shares of the oil and gas exploration company's stock valued at $226,836,000 after acquiring an additional 513,846 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in NOV by 48.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company's stock worth $246,962,000 after acquiring an additional 3,843,096 shares during the period. 93.27% of the stock is owned by institutional investors.

Insider Transactions at NOV

In related news, CAO Christy Lynn Novak sold 3,500 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the transaction, the chief accounting officer now owns 114,212 shares of the company's stock, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NOV shares. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price target on shares of NOV in a research report on Tuesday, February 6th. Piper Sandler reduced their target price on NOV from $25.00 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, February 20th. Susquehanna reaffirmed a "positive" rating and issued a $26.00 price target on shares of NOV in a report on Monday, April 8th. Raymond James cut their price objective on NOV from $28.00 to $25.00 and set an "outperform" rating for the company in a report on Monday, February 5th. Finally, Benchmark cut 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 assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of "Hold" and an average target price of $24.36.

NOV Trading Up 0.2 %

NOV traded up $0.03 on Thursday, hitting $18.50. 2,185,983 shares of the company were exchanged, compared to its average volume of 4,321,540. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. NOV Inc. has a 12 month low of $14.05 and a 12 month high of $21.91. The firm has a fifty day simple moving average of $18.39 and a two-hundred day simple moving average of $19.20. The stock has a market capitalization of $7.32 billion, a PE ratio of 7.42, a price-to-earnings-growth ratio of 0.82 and a beta of 1.74.

NOV (NYSE:NOV - Get Free Report) last issued its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, topping the consensus estimate of $0.41 by $1.10. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Sell-side analysts expect that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.08%. NOV's payout ratio is 7.97%.

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.