NOV Inc. $NOV Shares Sold by Ethic Inc.

Ethic Inc. trimmed its holdings in shares of NOV Inc. (NYSE:NOV) by 27.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 94,976 shares of the oil and gas exploration company’s stock after selling 36,408 shares during the period. Ethic Inc.’s holdings in NOV were worth $1,258,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NOV. Canandaigua National Trust Co of Florida grew its position in shares of NOV by 114.0% during the second quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company’s stock worth $962,000 after acquiring an additional 41,235 shares during the last quarter. Hsbc Holdings PLC grew its position in NOV by 111.3% in the 2nd quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock worth $6,006,000 after purchasing an additional 250,705 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its stake in shares of NOV by 64.9% in the second quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company’s stock valued at $1,258,000 after purchasing an additional 39,848 shares during the period. Empowered Funds LLC raised its holdings in shares of NOV by 2,266.9% during the first quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company’s stock valued at $7,755,000 after buying an additional 488,027 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of NOV by 18.8% during the second quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company’s stock worth $10,006,000 after buying an additional 127,433 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOV has been the topic of several analyst reports. Piper Sandler raised their target price on NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, December 18th. Royal Bank Of Canada raised their price target on NOV from $17.00 to $19.00 and gave the company an “outperform” rating in a report on Wednesday, October 29th. The Goldman Sachs Group upped their price objective on shares of NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a report on Wednesday, November 5th. Barclays increased their target price on shares of NOV from $13.00 to $15.00 and gave the company an “underweight” rating in a research report on Wednesday, December 17th. Finally, Morgan Stanley set a $16.00 price target on shares of NOV in a research report on Monday, December 15th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.83.

Insider Buying and Selling at NOV

In related news, Director Christian S. Kendall bought 70,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the acquisition, the director directly owned 85,949 shares of the company’s stock, valued at $1,242,822.54. The trade was a 438.90% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.08% of the stock is currently owned by corporate insiders.

NOV Price Performance

Shares of NOV stock opened at $16.42 on Friday. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.96. The company has a current ratio of 2.55, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.99 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 4.17 and a beta of 0.97. The company’s 50-day moving average price is $15.50 and its two-hundred day moving average price is $13.88.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, December 5th. NOV’s dividend payout ratio is 30.00%.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.