First Horizon Advisors Inc. lessened its stake in NOV Inc. (NYSE:NOV) by 15.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 9,813 shares of the oil and gas exploration company’s stock after selling 1,799 shares during the period. First Horizon Advisors Inc.’s holdings in NOV were worth $134,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of NOV. First Trust Advisors LP increased its holdings in NOV by 111.4% in the 1st quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock valued at $3,384,000 after purchasing an additional 66,949 shares during the last quarter. Ethic Inc. purchased a new position in NOV in the 2nd quarter valued at approximately $273,000. Principal Financial Group Inc. boosted its position in NOV by 1.9% in the 2nd quarter. Principal Financial Group Inc. now owns 475,911 shares of the oil and gas exploration company’s stock valued at $7,291,000 after buying an additional 8,735 shares during the period. Moors & Cabot Inc. boosted its position in NOV by 22.9% in the 2nd quarter. Moors & Cabot Inc. now owns 20,572 shares of the oil and gas exploration company’s stock valued at $315,000 after buying an additional 3,836 shares during the period. Finally, CWM Advisors LLC boosted its position in NOV by 2.6% in the 2nd quarter. CWM Advisors LLC now owns 70,812 shares of the oil and gas exploration company’s stock valued at $1,085,000 after buying an additional 1,762 shares during the period. Hedge funds and other institutional investors own 93.32% of the company’s stock.
In other news, Director Eric L. Mattson sold 8,157 shares of the business’s stock in a transaction dated Thursday, October 28th. The shares were sold at an average price of $14.53, for a total transaction of $118,521.21. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 1.39% of the company’s stock.
NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, October 26th. The oil and gas exploration company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.03). The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.42 billion. NOV had a negative net margin of 10.44% and a negative return on equity of 6.25%. On average, sell-side analysts anticipate that NOV Inc. will post -0.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Friday, December 3rd were paid a $0.05 dividend. The ex-dividend date was Thursday, December 2nd. This represents a $0.20 dividend on an annualized basis and a yield of 1.21%. NOV’s dividend payout ratio is presently -13.79%.
NOV has been the subject of several recent research reports. Griffin Securities reissued a “hold” rating on shares of NOV in a research report on Sunday, October 31st. Wells Fargo & Company assumed coverage on shares of NOV in a research report on Sunday, September 26th. They set a “sell” rating and a $12.00 price objective for the company. Morgan Stanley decreased their price objective on shares of NOV from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, October 11th. Finally, JPMorgan Chase & Co. raised shares of NOV from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Tuesday, December 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of “Hold” and a consensus target price of $16.56.
NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.
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