Vanguard Group Inc. Sells 32,394 Shares of NOV Inc. (NYSE:NOV)

Vanguard Group Inc. decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,896,867 shares of the oil and gas exploration company’s stock after selling 32,394 shares during the quarter. Vanguard Group Inc. owned 0.10% of NOV worth $567,894,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in NOV by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock valued at $46,760,000 after purchasing an additional 55,056 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of NOV by 5.4% during the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock worth $1,026,000 after buying an additional 3,274 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of NOV by 519.1% in the 3rd 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 acquiring an additional 367,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NOV by 5.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,386 shares of the oil and gas exploration company’s stock valued at $1,348,000 after acquiring an additional 4,721 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in NOV by 767.1% during the 3rd quarter. Verition Fund Management LLC now owns 163,317 shares of the oil and gas exploration company’s stock worth $2,608,000 after acquiring an additional 144,483 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NOV shares. Barclays lifted their price target on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Raymond James upped their price target 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 Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, ATB Capital restated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $19.60.

NOV Trading Up 1.8 %

NYSE NOV opened at $15.26 on Tuesday. NOV Inc. has a one year low of $13.78 and a one year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $15.38. The stock has a market capitalization of $5.81 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.97%. NOV’s dividend payout ratio (DPR) is presently 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.