Natixis Advisors LLC Sells 20,263 Shares of NOV Inc. (NYSE:NOV)

Natixis Advisors LLC lowered its stake in shares of NOV Inc. (NYSE:NOV) by 33.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,900 shares of the oil and gas exploration company’s stock after selling 20,263 shares during the period. Natixis Advisors LLC’s holdings in NOV were worth $583,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NOV. Quest Partners LLC acquired a new stake in NOV in the 3rd quarter valued at about $96,000. Charles Schwab Investment Management Inc. increased its position in NOV by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock worth $46,760,000 after buying an additional 55,056 shares during the last quarter. Cerity Partners LLC raised its stake in NOV by 5.4% in the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock valued at $1,026,000 after buying an additional 3,274 shares during the period. Bank of Montreal Can lifted its position in shares of NOV by 519.1% in the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock valued at $7,000,000 after buying an additional 367,308 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in shares of NOV during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

NOV has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday. Raymond James increased their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

NOV opened at $15.27 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 52-week low of $13.78 and a 52-week high of $21.20. The firm has a market cap of $5.81 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business’s fifty day moving average is $15.01 and its 200-day moving average is $15.40.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) 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%. Sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.97%. NOV’s dividend payout ratio is currently 18.63%.

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.