Ninety One UK Ltd Sells 156,533 Shares of NOV Inc. (NYSE:NOV)

Ninety One UK Ltd lessened its stake in NOV Inc. (NYSE:NOV) by 4.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,309,504 shares of the oil and gas exploration company’s stock after selling 156,533 shares during the quarter. Ninety One UK Ltd’s holdings in NOV were worth $67,117,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its stake in shares of NOV by 16.6% in the 1st quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock valued at $14,961,000 after purchasing an additional 108,845 shares during the period. Raymond James & Associates raised its position in NOV by 15.4% in the 1st quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock valued at $3,449,000 after buying an additional 23,430 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in NOV by 8.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock worth $273,000 after acquiring an additional 1,079 shares during the last quarter. US Bancorp DE grew its stake in shares of NOV by 2.0% during the 1st quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock worth $777,000 after acquiring an additional 788 shares in the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of NOV by 7.8% in the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock valued at $801,000 after purchasing an additional 2,962 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. ATB Capital set a $33.00 target price on NOV and gave the company an “outperform” rating in a research report on Friday, December 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of NOV in a report on Tuesday, February 6th. Susquehanna restated a “positive” rating and issued a $26.00 price target on shares of NOV in a research note on Monday, April 8th. Finally, Raymond James dropped their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $24.36.

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.85% of the company’s stock.

NOV Stock Performance

NOV stock traded up $0.08 during trading hours on Thursday, hitting $18.55. The company had a trading volume of 840,860 shares, compared to its average volume of 4,302,246. NOV Inc. has a one year low of $14.05 and a one year high of $21.91. The firm has a market cap of $7.34 billion, a PE ratio of 7.42, a PEG ratio of 0.82 and a beta of 1.74. The firm has a 50-day moving average of $18.39 and a 200 day moving average of $19.20. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51.

NOV (NYSE:NOV) last released its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The business had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.26 billion. During the same period last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, sell-side analysts expect that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, March 13th. NOV’s dividend payout ratio is 7.97%.

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.