NOV Inc. (NYSE:NOV) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its stake in NOV Inc. (NYSE:NOV) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,542 shares of the oil and gas exploration company’s stock after selling 4,270 shares during the period. State of Alaska Department of Revenue’s holdings in NOV were worth $862,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in NOV. FMR LLC increased its position in NOV by 30.9% in the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after buying an additional 4,369,540 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of NOV by 48.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,822,009 shares of the oil and gas exploration company’s stock valued at $246,962,000 after purchasing an additional 3,843,096 shares during the period. Invesco Ltd. increased its holdings in shares of NOV by 88.0% during the first quarter. Invesco Ltd. now owns 5,810,818 shares of the oil and gas exploration company’s stock valued at $113,950,000 after purchasing an additional 2,720,566 shares during the period. BlackRock Inc. increased its holdings in shares of NOV by 6.5% during the first quarter. BlackRock Inc. now owns 36,323,702 shares of the oil and gas exploration company’s stock valued at $712,308,000 after purchasing an additional 2,227,845 shares during the period. Finally, Alliancebernstein L.P. increased its holdings in shares of NOV by 312.2% during the fourth quarter. Alliancebernstein L.P. now owns 2,523,652 shares of the oil and gas exploration company’s stock valued at $52,719,000 after purchasing an additional 1,911,356 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Trading Up 0.1 %

Shares of NOV opened at $20.27 on Thursday. The business’s 50-day moving average price is $18.26 and its 200 day moving average price is $19.27. The stock has a market capitalization of $8.02 billion, a P/E ratio of 8.08, a P/E/G ratio of 0.38 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 current ratio of 2.40, a quick ratio of 1.51 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. The firm had revenue of $2.34 billion for 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%. NOV’s revenue was up 13.0% on a year-over-year basis. During the same quarter last year, the business posted $0.26 EPS. Analysts expect that NOV Inc. will post 1.54 earnings per share for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.99%. NOV’s dividend payout ratio is currently 7.97%.

Insider Buying and Selling at NOV

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of NOV 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 approximately $1,990,715.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.77% of the company’s stock.

Analyst Ratings Changes

NOV has been the topic of a number of research analyst reports. TD Cowen lowered their price target on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Raymond James lowered their price target on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Piper Sandler lowered their price target on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Stifel Nicolaus lowered their price target on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a report on Monday, February 5th. Finally, ATB Capital set a $33.00 target price on NOV and gave the stock an “outperform” rating in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.36.

About NOV

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.