US Bancorp DE Grows Stake in NOV Inc. (NYSE:NOV)

US Bancorp DE lifted its stake in NOV Inc. (NYSE:NOVFree Report) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,786 shares of the oil and gas exploration company’s stock after buying an additional 1,584 shares during the period. US Bancorp DE’s holdings in NOV were worth $665,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. FMR LLC grew its position in NOV by 30.9% in the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock valued at $386,962,000 after acquiring an additional 4,369,540 shares in the last quarter. Schroder Investment Management Group purchased a new stake in NOV during the 3rd quarter worth $13,329,000. Envestnet Asset Management Inc. lifted its holdings in NOV by 68.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 646,973 shares of the oil and gas exploration company’s stock worth $13,522,000 after buying an additional 263,543 shares in the last quarter. Van ECK Associates Corp boosted its position in NOV by 4.2% in the 4th quarter. Van ECK Associates Corp now owns 5,687,556 shares of the oil and gas exploration company’s stock valued at $115,343,000 after buying an additional 231,464 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in shares of NOV by 4.5% during the third quarter. Earnest Partners LLC now owns 4,143,782 shares of the oil and gas exploration company’s stock valued at $86,605,000 after acquiring an additional 178,375 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NOV. Piper Sandler lowered their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. TD Cowen dropped their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Finally, Susquehanna reiterated a “positive” rating and set a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, NOV has an average rating of “Hold” and an average target price of $24.07.

Get Our Latest Research Report on NOV

NOV Trading Up 0.5 %

NYSE:NOV opened at $17.41 on Friday. The firm has a market capitalization of $6.88 billion, a P/E ratio of 6.99, a P/E/G ratio of 0.54 and a beta of 1.70. The business has a 50 day simple moving average of $18.91 and a 200 day simple moving average of $18.90. 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 Inc. has a 12-month low of $14.85 and a 12-month high of $21.91.

NOV (NYSE:NOVGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 earnings per share. Equities research analysts predict that NOV Inc. will post 1.56 EPS for the current year.

NOV Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.075 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.72%. This is a positive change from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio (DPR) is presently 8.03%.

NOV Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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