Twin Tree Management LP Has $102,000 Holdings in NOV Inc. (NYSE:NOV)

Twin Tree Management LP trimmed its position in shares of NOV Inc. (NYSE:NOV) by 77.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,208 shares of the oil and gas exploration company’s stock after selling 18,266 shares during the quarter. Twin Tree Management LP’s holdings in NOV were worth $102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in NOV. Pzena Investment Management LLC lifted its position in NOV by 12.7% during the 1st quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock worth $684,618,000 after acquiring an additional 3,946,504 shares during the last quarter. Balyasny Asset Management L.P. grew its position in NOV by 769.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after acquiring an additional 5,456,581 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of NOV by 4.2% in the fourth quarter. Van ECK Associates Corp now owns 5,687,556 shares of the oil and gas exploration company’s stock valued at $115,343,000 after buying an additional 231,464 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of NOV by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,883,885 shares of the oil and gas exploration company’s stock worth $75,813,000 after acquiring an additional 42,717 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in NOV by 4.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,776,524 shares of the oil and gas exploration company’s stock worth $56,308,000 after buying an additional 130,478 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NOV. Susquehanna restated a “positive” rating and issued a $26.00 price objective on shares of NOV in a report on Monday, April 8th. Bank of America cut their price target on NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Piper Sandler dropped their price objective on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, TD Cowen decreased their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $24.07.

NOV Trading Down 1.5 %

NOV stock opened at $18.97 on Friday. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 7.62, a P/E/G ratio of 0.59 and a beta of 1.70. The firm has a 50-day moving average of $18.38 and a 200-day moving average of $18.65. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. NOV Inc. has a one year low of $16.77 and a one year high of $21.91.

NOV (NYSE:NOV) last released its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. NOV’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, equities analysts expect that NOV Inc. will post 1.55 earnings per share for the current fiscal year.

NOV Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.58%. This is a boost from NOV’s previous quarterly dividend of $0.05. The ex-dividend date was Friday, June 14th. NOV’s dividend payout ratio is presently 12.05%.

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.