NOV Inc. (NYSE:NOV) Holdings Decreased by US Bancorp DE

US Bancorp DE decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 24.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,227 shares of the oil and gas exploration company’s stock after selling 3,271 shares during the quarter. US Bancorp DE’s holdings in NOV were worth $156,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC grew its holdings in shares of NOV by 0.3% during the first quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company’s stock valued at $632,610,000 after buying an additional 106,011 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock valued at $245,178,000 after buying an additional 1,934,243 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of NOV by 40.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock valued at $83,489,000 after buying an additional 1,652,917 shares in the last quarter. Greenhaven Associates Inc. grew its stake in NOV by 25.0% in the first quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company’s stock valued at $62,617,000 after purchasing an additional 823,115 shares in the last quarter. Finally, Earnest Partners LLC increased its position in NOV by 0.5% in the 4th quarter. Earnest Partners LLC now owns 3,883,015 shares of the oil and gas exploration company’s stock worth $56,692,000 after purchasing an additional 17,871 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE:NOV opened at $12.19 on Friday. The business has a 50 day moving average price of $13.01 and a 200 day moving average price of $13.38. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $18.40. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 3.38 and a beta of 1.32. 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 posted its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $0.57 EPS. Research analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, September 12th. This represents a $0.30 annualized dividend and a yield of 2.5%. NOV’s dividend payout ratio is 24.59%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on NOV shares. Evercore ISI dropped their target price on NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 30th. Barclays dropped their target price on NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Stifel Nicolaus dropped their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Piper Sandler dropped their target price on NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada dropped their target price on NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus price target of $16.56.

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.