Bank of Montreal Can Trims Stock Position in NOV Inc. $NOV

Bank of Montreal Can lessened its position in shares of NOV Inc. (NYSE:NOV) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 52,620 shares of the oil and gas exploration company’s stock after selling 6,728 shares during the period. Bank of Montreal Can’s holdings in NOV were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of NOV. Banque Cantonale Vaudoise bought a new position in shares of NOV in the first quarter worth $25,000. Quarry LP increased its stake in NOV by 119.7% in the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 1,856 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of NOV by 395.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 2,921 shares in the last quarter. Signaturefd LLC boosted its position in shares of NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of NOV by 30.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock worth $75,000 after purchasing an additional 1,155 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on NOV shares. Piper Sandler dropped their target price on shares of NOV from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Evercore ISI lowered their price objective on shares of NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a research report on Wednesday, July 30th. Stifel Nicolaus upped their target price on shares of NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Raymond James Financial restated an “outperform” rating and set a $17.00 price target on shares of NOV in a research report on Tuesday, October 28th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of NOV in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.54.

NOV Trading Up 3.1%

NYSE NOV opened at $15.75 on Monday. The firm has a market cap of $5.74 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $16.84. The stock has a 50-day moving average of $13.74 and a 200-day moving average of $13.14. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The company’s revenue was down .7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 earnings per share. As a group, sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

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.