Thrivent Financial for Lutherans Sells 7,103,297 Shares of NOV Inc. (NYSE:NOV)

Thrivent Financial for Lutherans decreased its position in shares of NOV Inc. (NYSE:NOV) by 95.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 320,628 shares of the oil and gas exploration company’s stock after selling 7,103,297 shares during the period. Thrivent Financial for Lutherans’ holdings in NOV were worth $4,682,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new position in NOV in the 3rd quarter worth approximately $36,000. UMB Bank n.a. grew its stake in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Signaturefd LLC increased its position in NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV during the 4th quarter valued at $42,000. Finally, Brooklyn Investment Group bought a new stake in NOV in the 3rd quarter valued at $48,000. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NOV shares. Piper Sandler lifted their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Monday. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Price Performance

NOV stock opened at $15.13 on Tuesday. The stock has a market cap of $5.76 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a 12-month low of $13.78 and a 12-month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business’s 50-day simple moving average is $14.99 and its 200 day simple moving average is $15.41.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.98%. NOV’s dividend payout ratio is currently 18.63%.

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.