Natixis Advisors LLC Purchases 17,959 Shares of NOV Inc. (NYSE:NOV)

Natixis Advisors LLC boosted its stake in NOV Inc. (NYSE:NOV) by 45.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,859 shares of the oil and gas exploration company’s stock after purchasing an additional 17,959 shares during the period. Natixis Advisors LLC’s holdings in NOV were worth $881,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new stake in NOV in the first quarter worth $25,000. Covestor Ltd increased its position in NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in NOV in the first quarter worth about $36,000. CX Institutional purchased a new stake in NOV in the first quarter worth about $42,000. Finally, UMB Bank n.a. grew its position in shares of NOV by 66.7% during the first quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company’s stock worth $59,000 after purchasing an additional 1,558 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company dropped their price target on NOV from $11.00 to $10.00 and set an “underweight” rating for the company in a research note on Thursday, June 5th. Stifel Nicolaus decreased their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, July 30th. JPMorgan Chase & Co. lowered NOV from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, July 30th. Piper Sandler decreased their price target on NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $16.69.

NOV Stock Performance

NOV opened at $11.90 on Monday. The stock’s fifty day moving average is $13.02 and its two-hundred day moving average is $13.46. The company has a market capitalization of $4.42 billion, a P/E ratio of 9.75, a PEG ratio of 3.27 and a beta of 1.32. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $18.40. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The company had revenue of $2.19 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. Analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were issued a $0.21 dividend. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 363.0%. NOV’s dividend payout ratio (DPR) is currently 24.59%.

About NOV

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.