Zurcher Kantonalbank Zurich Cantonalbank Has $1.67 Million Stake in NOV Inc. (NYSE:NOV)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in NOV Inc. (NYSE:NOV) by 11.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 82,331 shares of the oil and gas exploration company’s stock after buying an additional 8,591 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NOV were worth $1,670,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. CENTRAL TRUST Co lifted its position in NOV by 85.4% during the 3rd quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock worth $26,000 after acquiring an additional 580 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new position in shares of NOV during the fourth quarter worth approximately $49,000. International Assets Investment Management LLC boosted its position in shares of NOV by 1,306.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after acquiring an additional 3,240 shares during the period. CWM LLC grew its stake in shares of NOV by 17.9% in the third quarter. CWM LLC now owns 4,944 shares of the oil and gas exploration company’s stock worth $103,000 after acquiring an additional 752 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in 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 worth $104,000 after acquiring an additional 1,086 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NOV stock opened at $18.83 on Thursday. The stock has a market capitalization of $7.45 billion, a price-to-earnings ratio of 7.50, a P/E/G ratio of 0.81 and a beta of 1.74. The firm’s 50-day moving average price is $18.54 and its two-hundred day moving average price is $19.17. 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 Inc. has a 1-year low of $14.05 and a 1-year high of $21.91.

NOV (NYSE:NOV) last released its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business 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 company earned $0.26 EPS. NOV’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict that NOV Inc. will post 1.52 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.06%. NOV’s dividend payout ratio is 7.97%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NOV shares. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Susquehanna reissued a “positive” rating and set a $26.00 target price on shares of NOV in a research report on Monday, April 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Tuesday, February 6th. Benchmark lowered NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Raymond James cut their target price on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NOV currently has an average rating of “Hold” and a consensus price target of $24.36.

Insider Buying and Selling

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 shares were sold at an average price of $17.43, for a total value 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 Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by corporate insiders.

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.