Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of NOV Inc. (NYSE:NOV – Free Report) by 7.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 190,322 shares of the oil and gas exploration company’s stock after buying an additional 13,401 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in NOV were worth $3,053,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of NOV. First Horizon Advisors Inc. grew its stake in shares of NOV by 18.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 3,268 shares of the oil and gas exploration company’s stock worth $52,000 after purchasing an additional 512 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of NOV by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock worth $306,000 after acquiring an additional 598 shares in the last quarter. Covestor Ltd increased its position in shares of NOV by 94.4% in the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares in the last quarter. Fifth Third Bancorp increased its position in shares of NOV by 19.7% in the second quarter. Fifth Third Bancorp now owns 3,904 shares of the oil and gas exploration company’s stock worth $63,000 after acquiring an additional 642 shares in the last quarter. Finally, MQS Management LLC boosted its holdings in shares of NOV by 3.7% during the first quarter. MQS Management LLC now owns 18,753 shares of the oil and gas exploration company’s stock worth $347,000 after purchasing an additional 661 shares during the period. Institutional investors and hedge funds own 93.19% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts recently commented on NOV shares. StockNews.com upgraded shares of NOV from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. Piper Sandler decreased their price target on shares of NOV from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 31st. The Goldman Sachs Group raised their price target on shares of NOV from $16.00 to $18.00 and gave the stock a “sell” rating in a report on Wednesday, August 9th. Morgan Stanley raised their price target on shares of NOV from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday, October 17th. Finally, Barclays cut shares of NOV from an “equal weight” rating to an “underweight” rating and set a $20.00 target price for the company. in a research note on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $24.00.
NOV Trading Up 3.8 %
NYSE:NOV opened at $19.45 on Monday. NOV Inc. has a 12 month low of $14.05 and a 12 month high of $24.83. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 15.44, a P/E/G ratio of 0.28 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average is $20.09 and its 200-day moving average is $18.51.
NOV (NYSE:NOV – Get Free Report) last released its quarterly earnings results on Thursday, October 26th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.06). NOV had a net margin of 6.00% and a return on equity of 9.28%. The firm had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. Equities analysts anticipate that NOV Inc. will post 1.41 EPS for the current year.
NOV Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 8th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, December 7th. NOV’s dividend payout ratio is 15.87%.
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors worldwide. The company operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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