NOV Inc. (NYSE:NOV) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its holdings in NOV Inc. (NYSE:NOV) by 1.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,219 shares of the oil and gas exploration company’s stock after selling 3,548 shares during the quarter. Narwhal Capital Management’s holdings in NOV were worth $2,789,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Oppenheimer Asset Management Inc. increased its holdings in shares of NOV by 8.5% during the first quarter. Oppenheimer Asset Management Inc. now owns 135,504 shares of the oil and gas exploration company’s stock valued at $2,062,000 after purchasing an additional 10,652 shares during the period. QRG Capital Management Inc. increased its stake in NOV by 12.1% during the 1st quarter. QRG Capital Management Inc. now owns 26,928 shares of the oil and gas exploration company’s stock valued at $410,000 after buying an additional 2,896 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of NOV by 382.9% in the 1st quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company’s stock worth $277,000 after acquiring an additional 14,432 shares during the period. Hennessy Advisors Inc. boosted its holdings in shares of NOV by 52.4% in the first quarter. Hennessy Advisors Inc. now owns 50,900 shares of the oil and gas exploration company’s stock valued at $775,000 after acquiring an additional 17,500 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in NOV by 62.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company’s stock worth $861,000 after purchasing an additional 21,813 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on NOV. Wells Fargo & Company decreased their price target on NOV from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, June 5th. Barclays decreased their target price on NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Royal Bank Of Canada cut their price target on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of NOV from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.44.

NOV Stock Down 2.2%

NOV stock opened at $13.22 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.65 and a quick ratio of 1.76. The firm has a market capitalization of $4.97 billion, a P/E ratio of 8.81, a P/E/G ratio of 3.35 and a beta of 1.28. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20. The company’s 50 day simple moving average is $12.56 and its 200-day simple moving average is $13.89.

NOV (NYSE:NOV) last announced its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 6.68% and a return on equity of 9.11%. NOV’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. As a group, equities research analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently disclosed a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were paid a $0.21 dividend. This represents a yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV’s dividend payout ratio is currently 20.00%.

NOV 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.