NOV Inc. (NYSE:NOV) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in NOV Inc. (NYSE:NOV) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 243,423 shares of the oil and gas exploration company’s stock after selling 12,548 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NOV were worth $4,937,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of NOV by 93.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 134,503 shares of the oil and gas exploration company’s stock valued at $2,811,000 after buying an additional 65,006 shares during the period. Schroder Investment Management Group purchased a new stake in shares of NOV during the third quarter valued at $13,329,000. Sei Investments Co. lifted its holdings in shares of NOV by 31.4% during the third quarter. Sei Investments Co. now owns 620,105 shares of the oil and gas exploration company’s stock valued at $12,960,000 after purchasing an additional 148,099 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of NOV by 27.8% during the third quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 1,086 shares during the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of NOV during the third quarter valued at $4,314,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NOV shares. Stifel Nicolaus reduced their target price on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Raymond James reduced their target price on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Piper Sandler reduced their target price on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Tuesday, February 6th. Finally, Benchmark lowered NOV from a “buy” rating to a “hold” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.36.

Insider Transactions at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the company’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 completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

NOV Stock Performance

Shares of NOV stock opened at $19.63 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51. NOV Inc. has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The stock’s 50-day moving average is $18.30 and its two-hundred day moving average is $19.24. The firm has a market cap of $7.76 billion, a P/E ratio of 7.82, a PEG ratio of 0.37 and a beta of 1.74.

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. NOV had a return on equity of 10.79% and a net margin of 11.57%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the prior year, the firm posted $0.26 EPS. The business’s revenue was up 13.0% compared to the same quarter last year. Analysts predict that NOV Inc. will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.02%. NOV’s dividend payout ratio (DPR) is presently 7.97%.

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.