NOV Inc. (NYSE:NOV) Shares Sold by Quent Capital LLC

Quent Capital LLC trimmed its position in shares of NOV Inc. (NYSE:NOV) by 21.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,894 shares of the oil and gas exploration company’s stock after selling 800 shares during the period. Quent Capital LLC’s holdings in NOV were worth $59,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in NOV. JPMorgan Chase & Co. lifted its stake in NOV by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock worth $14,961,000 after purchasing an additional 108,845 shares in the last quarter. Raymond James & Associates increased its position in shares of NOV by 15.4% during the first quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock worth $3,449,000 after acquiring an additional 23,430 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of NOV by 8.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock worth $273,000 after acquiring an additional 1,079 shares during the period. US Bancorp DE increased its position in shares of NOV by 2.0% during the first quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock worth $777,000 after acquiring an additional 788 shares during the period. Finally, HighTower Advisors LLC increased its position in shares of NOV by 7.8% during the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock worth $801,000 after acquiring an additional 2,962 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Tuesday, February 6th. Benchmark lowered NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. TD Cowen cut their price objective on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Raymond James cut their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Finally, Piper Sandler dropped their target price on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $24.36.

NOV Stock Performance

Shares of NOV stock opened at $19.52 on Monday. The stock’s 50-day moving average is $18.30 and its two-hundred day moving average is $19.28. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 7.78, a PEG ratio of 0.36 and a beta of 1.74. NOV Inc. has a 1 year low of $14.05 and a 1 year high of $21.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40.

NOV (NYSE:NOV) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $1.10. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.26 earnings per share. Analysts predict that NOV Inc. will post 1.54 earnings per share for the current year.

NOV Dividend Announcement

The company also recently disclosed 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 dividend yield of 1.02%. The ex-dividend date 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.