Swiss National Bank Trims Stake in NOV Inc. (NYSE:NOV)

Swiss National Bank cut its stake in shares of NOV Inc. (NYSE:NOV) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 776,100 shares of the oil and gas exploration company’s stock after selling 89,200 shares during the period. Swiss National Bank’s holdings in NOV were worth $15,739,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. CENTRAL TRUST Co grew its stake in shares of 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 valued at $26,000 after acquiring an additional 580 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of NOV in the fourth quarter worth approximately $49,000. GAMMA Investing LLC purchased a new stake in shares of NOV in the fourth quarter worth $61,000. International Assets Investment Management LLC raised its position in shares of NOV by 1,306.5% during the 4th 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. Finally, Fifth Third Bancorp lifted its stake in shares of NOV by 27.8% during the 3rd quarter. Fifth Third Bancorp now owns 4,990 shares of the oil and gas exploration company’s stock valued at $104,000 after buying an additional 1,086 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Tuesday, February 6th. Raymond James cut their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Piper Sandler lowered their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, February 20th. Finally, Stifel Nicolaus cut their target price on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.07.

NOV Trading Up 1.2 %

Shares of NOV stock opened at $19.14 on Friday. The company has a market cap of $7.57 billion, a PE ratio of 7.69, a price-to-earnings-growth ratio of 0.79 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 stock’s 50 day simple moving average is $18.90 and its two-hundred day simple moving average is $19.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50.

NOV (NYSE:NOV) last released its quarterly earnings results 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 company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. NOV’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.32 EPS. Research analysts predict that NOV Inc. will post 1.54 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 1.04%. NOV’s dividend payout ratio (DPR) is presently 8.03%.

Insider Activity at NOV

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now owns 114,212 shares in the company, valued at $1,990,715.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.85% of the stock is currently owned by 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.