Ethic Inc. Trims Stake in NOV Inc. (NYSE:NOV)

Ethic Inc. reduced its stake in shares of NOV Inc. (NYSE:NOV) by 31.7% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 77,862 shares of the oil and gas exploration company’s stock after selling 36,135 shares during the period. Ethic Inc.’s holdings in NOV were worth $1,137,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mariner LLC boosted its position in NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock valued at $353,000 after buying an additional 672 shares during the period. Signaturefd LLC increased its stake in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. Huntington National Bank increased its holdings in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Coppell Advisory Solutions LLC raised its position in NOV by 20.1% in the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company’s stock worth $106,000 after buying an additional 1,225 shares during the last quarter. Finally, Verum Partners LLC raised its holdings in shares of NOV by 9.0% during the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after purchasing an additional 1,248 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE NOV opened at $13.06 on Wednesday. The stock’s 50-day simple moving average is $13.20 and its 200-day simple moving average is $14.54. The firm has a market capitalization of $4.91 billion, a PE ratio of 8.11, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $0.30 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.30%. NOV’s dividend payout ratio is presently 20.00%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Royal Bank of Canada reduced their target price on NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Raymond James upped their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price objective on shares of NOV from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, NOV presently has an average rating of “Hold” and an average target price of $18.00.

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.