Nisa Investment Advisors LLC Has $1.02 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Nisa Investment Advisors LLC increased its position in shares of NOV Inc. (NYSE:NOV) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 50,280 shares of the oil and gas exploration company’s stock after purchasing an additional 580 shares during the period. Nisa Investment Advisors LLC’s holdings in NOV were worth $1,020,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co grew its stake in NOV by 85.4% during the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after buying an additional 580 shares during the last quarter. Commonwealth Equity Services LLC grew its position in NOV by 3.3% during the 3rd 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 during the last quarter. Covestor Ltd increased its holdings in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after purchasing an additional 625 shares in the last quarter. Kestra Advisory Services LLC raised its position in NOV by 3.2% in the 2nd quarter. Kestra Advisory Services LLC now owns 21,269 shares of the oil and gas exploration company’s stock valued at $341,000 after purchasing an additional 653 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of NOV by 4.7% during the third quarter. Park Avenue Securities LLC now owns 15,135 shares of the oil and gas exploration company’s stock worth $316,000 after purchasing an additional 676 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research note on Tuesday, February 6th. Piper Sandler decreased their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. TD Cowen dropped their target price on NOV from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. StockNews.com upgraded NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Stifel Nicolaus lowered their price objective on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and a consensus price target of $24.36.

NOV Stock Down 2.3 %

NOV stock opened at $19.17 on Tuesday. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 7.64, a PEG ratio of 0.37 and a beta of 1.74. The company’s 50 day simple moving average is $18.34 and its 200 day simple moving average is $19.22. 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.

NOV (NYSE:NOV) last announced 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 company had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.26 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period last year, the firm posted $0.26 earnings per share. As a group, sell-side analysts anticipate that NOV Inc. will post 1.54 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is currently 7.97%.

Insider Activity

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the firm’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 transaction of $61,005.00. Following the sale, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.59% of the stock is currently owned by company insiders.

NOV 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.