NOV Inc. $NOV Holdings Cut by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its stake in shares of NOV Inc. (NYSE:NOV) by 43.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 43,100 shares of the oil and gas exploration company’s stock after selling 32,900 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in NOV were worth $571,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NOV. CoreFirst Bank & Trust purchased a new position in NOV in the second quarter valued at about $35,000. Hantz Financial Services Inc. increased its holdings in NOV by 395.3% in the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 2,921 shares during the last quarter. Signaturefd LLC raised its position in NOV by 33.2% during the second 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in NOV by 30.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock valued at $75,000 after acquiring an additional 1,155 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in NOV by 123.8% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock worth $67,000 after acquiring an additional 2,975 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Christian S. Kendall purchased 70,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the transaction, the director directly owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This trade represents a 438.90% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.85% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

NOV has been the subject of several analyst reports. Raymond James Financial reaffirmed an “outperform” rating and issued a $17.00 price objective on shares of NOV in a research note on Tuesday, October 28th. Piper Sandler raised their target price on NOV from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, December 18th. Citigroup boosted their price target on NOV from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Zacks Research raised NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Stifel Nicolaus raised their price objective on NOV from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, NOV has an average rating of “Hold” and an average target price of $15.83.

NOV Trading Up 5.1%

NOV stock opened at $16.42 on Monday. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.96. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. The firm has a market capitalization of $5.99 billion, a PE ratio of 16.42, a PEG ratio of 4.38 and a beta of 0.95. The business’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $13.88.

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

NOV Dividend Announcement

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

About NOV

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.