Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in NOV Inc. (NYSE:NOV)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in NOV Inc. (NYSE:NOV) by 11.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,331 shares of the oil and gas exploration company’s stock after acquiring an additional 8,591 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NOV were worth $1,670,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CENTRAL TRUST Co boosted its stake in NOV by 85.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after purchasing an additional 580 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in NOV in the fourth quarter valued at approximately $49,000. International Assets Investment Management LLC boosted its holdings in NOV by 1,306.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 3,240 shares during the period. CWM LLC grew its position in NOV by 17.9% in the 3rd quarter. CWM LLC now owns 4,944 shares of the oil and gas exploration company’s stock valued at $103,000 after acquiring an additional 752 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of NOV by 27.8% during the third quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company’s stock worth $104,000 after purchasing an additional 1,086 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Trading Down 0.2 %

NYSE NOV opened at $18.83 on Thursday. 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 $7.45 billion, a P/E ratio of 7.50, a P/E/G ratio of 0.81 and a beta of 1.74. NOV Inc. has a 52-week low of $14.05 and a 52-week high of $21.91. The firm has a 50-day moving average price of $18.54 and a 200 day moving average price of $19.17.

NOV (NYSE:NOV) last issued 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. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the prior year, the business posted $0.26 EPS. The company’s revenue for the quarter was up 13.0% on a year-over-year basis. Equities research analysts expect that NOV Inc. will post 1.52 EPS for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio (DPR) is 7.97%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NOV shares. TD Cowen dropped their price objective on shares of NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Stifel Nicolaus reduced their price target on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna reissued a “positive” rating and issued a $26.00 target price on shares of NOV in a report on Monday, April 8th. Finally, Raymond James decreased their target price on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $24.36.

Insider Buying and Selling

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 value of $61,005.00. Following the completion of the transaction, the chief accounting officer now directly owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.85% of the stock is owned by insiders.

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.