Veritable L.P. decreased its position in NOV Inc. (NYSE:NOV – Free Report) by 13.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 11,319 shares of the oil and gas exploration company’s stock after selling 1,688 shares during the quarter. Veritable L.P.’s holdings in NOV were worth $182,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. First Horizon Advisors Inc. grew its holdings in NOV by 18.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 3,268 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 512 shares during the last quarter. Commonwealth Equity Services LLC grew its holdings in NOV by 3.3% during the 3rd quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock worth $306,000 after acquiring an additional 598 shares during the last quarter. Covestor Ltd grew its holdings in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares during the last quarter. Fifth Third Bancorp grew its holdings in NOV by 19.7% during the 2nd quarter. Fifth Third Bancorp now owns 3,904 shares of the oil and gas exploration company’s stock worth $63,000 after acquiring an additional 642 shares during the last quarter. Finally, MQS Management LLC grew its holdings in NOV by 3.7% during the 1st quarter. MQS Management LLC now owns 18,753 shares of the oil and gas exploration company’s stock worth $347,000 after acquiring an additional 661 shares during the last quarter. Institutional investors own 93.19% of the company’s stock.
Wall Street Analysts Forecast Growth
NOV has been the topic of a number of research analyst reports. Citigroup increased their price objective on shares of NOV from $21.00 to $26.00 and gave the stock a “buy” rating in a report on Monday, July 31st. StockNews.com upgraded shares of NOV from a “sell” rating to a “hold” rating in a research report on Tuesday, November 14th. Barclays downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and set a $20.00 target price on the stock. in a research report on Tuesday, October 17th. Wells Fargo & Company upped their target price on shares of NOV from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 3rd. Finally, Piper Sandler cut their target price on shares of NOV from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, July 31st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $24.00.
NOV Price Performance
NYSE NOV opened at $19.27 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. NOV Inc. has a 12-month low of $14.05 and a 12-month high of $24.83. The company has a market capitalization of $7.59 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 0.28 and a beta of 1.87. The firm’s 50 day moving average is $20.06 and its 200-day moving average is $18.54.
NOV (NYSE:NOV – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). The business had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.13 billion. NOV had a net margin of 6.00% and a return on equity of 9.28%. NOV’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the business earned $0.08 earnings per share. Equities research analysts anticipate that NOV Inc. will post 1.41 earnings per share for the current fiscal year.
NOV Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Friday, December 8th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 7th. This represents a $0.20 dividend on an annualized basis and a yield of 1.04%. NOV’s payout ratio is 15.87%.
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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