NOV Inc. (NYSE:NOV) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lifted its stake in NOV Inc. (NYSE:NOV) by 7.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,354 shares of the oil and gas exploration company’s stock after purchasing an additional 1,197 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in NOV were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CENTRAL TRUST Co raised its position 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 acquiring an additional 580 shares during the last quarter. Bruce G. Allen Investments LLC purchased a new stake in NOV in the fourth quarter valued at approximately $49,000. International Assets Investment Management LLC grew its holdings in 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 purchasing an additional 3,240 shares during the period. CWM LLC grew its holdings in NOV by 17.9% in the third quarter. CWM LLC now owns 4,944 shares of the oil and gas exploration company’s stock valued at $103,000 after purchasing an additional 752 shares during the period. Finally, Fifth Third Bancorp grew its holdings in NOV by 27.8% in 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 period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

NOV has been the subject of several research reports. Raymond James decreased their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Piper Sandler reduced their price objective on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research note on Tuesday, February 6th. Stifel Nicolaus reduced their price objective on shares of NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Finally, Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. 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 company. According to data from MarketBeat, NOV currently has an average rating of “Hold” and an average price target of $24.36.

NOV Trading Down 0.4 %

Shares of NYSE:NOV opened at $18.87 on Friday. The company has a market cap of $7.46 billion, a PE ratio of 7.52, a P/E/G ratio of 0.82 and a beta of 1.74. The company’s 50-day moving average price is $18.60 and its 200 day moving average price is $19.16. NOV Inc. has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The company has a quick ratio of 1.51, a current ratio of 2.40 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.57% and a return on equity of 10.79%. NOV’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 EPS. Sell-side analysts anticipate that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.06%. NOV’s payout ratio is 7.97%.

Insider Buying and Selling at NOV

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 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 filing with the SEC, which can be accessed through this link. 1.85% of the stock is owned by corporate 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.