Crossmark Global Holdings Inc. Increases Stock Position in NOV Inc. $NOV

Crossmark Global Holdings Inc. grew its holdings in NOV Inc. (NYSE:NOV) by 203.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 85,897 shares of the oil and gas exploration company’s stock after buying an additional 57,634 shares during the period. Crossmark Global Holdings Inc.’s holdings in NOV were worth $1,343,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Arizona State Retirement System lifted its holdings in shares of NOV by 0.6% during the 3rd quarter. Arizona State Retirement System now owns 111,185 shares of the oil and gas exploration company’s stock valued at $1,473,000 after acquiring an additional 678 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in NOV by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,720 shares of the oil and gas exploration company’s stock worth $1,547,000 after buying an additional 724 shares during the period. Quadrant Capital Group LLC increased its stake in NOV by 2.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock worth $385,000 after buying an additional 743 shares during the period. Truist Financial Corp increased its stake in NOV by 7.6% during the 3rd quarter. Truist Financial Corp now owns 11,759 shares of the oil and gas exploration company’s stock worth $156,000 after buying an additional 827 shares during the period. Finally, NorthRock Partners LLC increased its stake in NOV by 8.2% during the 3rd quarter. NorthRock Partners LLC now owns 11,282 shares of the oil and gas exploration company’s stock worth $149,000 after buying an additional 854 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Craig L. Weinstock sold 70,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.08, for a total value of $1,405,600.00. Following the completion of the sale, the vice president owned 256,319 shares of the company’s stock, valued at approximately $5,146,885.52. The trade was a 21.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of NOV stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the completion of the transaction, the insider directly owned 269,694 shares of the company’s stock, valued at $5,439,727.98. This trade represents a 35.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.15% of the stock is currently owned by insiders.

NOV Price Performance

NOV opened at $20.58 on Wednesday. The company has a 50-day moving average of $19.36 and a 200-day moving average of $17.74. The company has a market capitalization of $7.39 billion, a P/E ratio of 85.77 and a beta of 0.92. NOV Inc. has a 1-year low of $11.65 and a 1-year high of $20.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47.

NOV (NYSE:NOV) last released its earnings results on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.NOV’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. Equities analysts expect that NOV Inc. will post 0.93 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 27th. Stockholders of record on Friday, March 13th were given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from NOV’s previous quarterly dividend of $0.08. NOV’s payout ratio is presently 150.00%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. The Goldman Sachs Group lifted their price target on shares of NOV from $17.00 to $20.00 and gave the stock a “sell” rating in a research note on Wednesday, March 4th. TD Cowen raised shares of NOV from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Morgan Stanley lifted their price target on shares of NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. Finally, Argus raised shares of NOV to a “hold” rating in a research note on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, NOV presently has an average rating of “Hold” and an average target price of $19.36.

NOV Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.