Mackenzie Financial Corp Boosts Stake in NOV Inc. (NYSE:NOV)

Mackenzie Financial Corp raised its position in shares of NOV Inc. (NYSE:NOV) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,285 shares of the oil and gas exploration company’s stock after buying an additional 2,079 shares during the quarter. Mackenzie Financial Corp’s holdings in NOV were worth $3,129,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NOV. CENTRAL TRUST Co grew its holdings in shares of NOV by 85.4% in the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after purchasing an additional 580 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of NOV by 1.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock worth $1,020,000 after buying an additional 580 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of NOV by 4.7% in the 3rd quarter. Park Avenue Securities LLC now owns 15,135 shares of the oil and gas exploration company’s stock worth $316,000 after buying an additional 676 shares during the last quarter. CWM LLC raised its position in shares of NOV by 17.9% during the 3rd quarter. CWM LLC now owns 4,944 shares of the oil and gas exploration company’s stock valued at $103,000 after buying an additional 752 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its holdings in shares of NOV by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 172,288 shares of the oil and gas exploration company’s stock valued at $3,601,000 after acquiring an additional 870 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOV. StockNews.com upgraded NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Susquehanna reaffirmed a “positive” rating and set a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Stifel Nicolaus dropped their price target on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Finally, Raymond James reduced their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Two 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. According to MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus price target of $24.36.

Insider Buying and Selling at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.85% of the company’s stock.

NOV Stock Performance

NOV stock opened at $18.58 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The company has a market capitalization of $7.35 billion, a PE ratio of 7.40, a P/E/G ratio of 0.81 and a beta of 1.74. The company has a 50 day moving average price of $18.47 and a 200-day moving average price of $19.18. NOV Inc. has a fifty-two week low of $14.05 and a fifty-two week high of $21.91.

NOV (NYSE:NOV) last issued its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.41 by $1.10. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.26 EPS. As a group, equities analysts forecast that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s payout ratio is 7.97%.

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.