Truist Financial Corp trimmed its position in NOV Inc. (NYSE:NOV – Free Report) by 14.4% in the 4th quarter, HoldingsChannel reports. The fund owned 26,947 shares of the oil and gas exploration company’s stock after selling 4,518 shares during the quarter. Truist Financial Corp’s holdings in NOV were worth $546,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of NOV by 10.8% in the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after purchasing an additional 536 shares during the period. Nisa Investment Advisors LLC grew its position in shares of NOV by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock worth $1,020,000 after purchasing an additional 580 shares in the last quarter. Park Avenue Securities LLC raised its stake in NOV by 4.7% during the 3rd quarter. Park Avenue Securities LLC now owns 15,135 shares of the oil and gas exploration company’s stock valued at $316,000 after purchasing an additional 676 shares during the period. Treasurer of the State of North Carolina lifted its holdings in NOV by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 172,288 shares of the oil and gas exploration company’s stock worth $3,601,000 after purchasing an additional 870 shares in the last quarter. Finally, PAX Financial Group LLC boosted its stake in NOV by 5.4% in the 3rd quarter. PAX Financial Group LLC now owns 18,352 shares of the oil and gas exploration company’s stock worth $384,000 after purchasing an additional 944 shares during the period. Institutional investors own 93.27% of the company’s stock.
NOV Stock Up 0.2 %
Shares of NYSE:NOV opened at $18.89 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. The business has a 50 day simple moving average of $19.07 and a two-hundred day simple moving average of $19.04. NOV Inc. has a 1 year low of $14.05 and a 1 year high of $21.91. The firm has a market capitalization of $7.47 billion, a PE ratio of 7.59, a price-to-earnings-growth ratio of 0.80 and a beta of 1.74.
NOV (NYSE:NOV – Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.32 EPS. NOV’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that NOV Inc. will post 1.55 EPS for the current year.
NOV Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.59%. This is an increase from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio (DPR) is currently 8.03%.
Analysts Set New Price Targets
NOV has been the topic of several recent analyst reports. Susquehanna reiterated a “positive” rating and set a $26.00 price objective on shares of NOV in a research report on Monday, April 8th. TD Cowen decreased their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Raymond James cut their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research report on Monday, February 5th. Piper Sandler decreased their target price on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $24.07.
Get Our Latest Analysis on NOV
Insider Activity at NOV
In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the sale, the chief accounting officer now directly owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.85% of the stock is currently owned by company insiders.
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.
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Source: defenseworld.net
