Corebridge Financial Inc. Sells 25,328 Shares of NOV Inc. (NYSE:NOV)

Corebridge Financial Inc. lowered its holdings in NOV Inc. (NYSE:NOV) by 5.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 440,247 shares of the oil and gas exploration company’s stock after selling 25,328 shares during the period. Corebridge Financial Inc. owned about 0.11% of NOV worth $6,428,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quarry LP purchased a new position in shares of NOV in the 3rd quarter worth about $36,000. UMB Bank n.a. raised its position in 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 period. Signaturefd LLC boosted its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV during the 4th quarter valued at approximately $42,000. Finally, Brooklyn Investment Group bought a new position in shares of NOV during the 3rd quarter valued at approximately $48,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, March 24th. Piper Sandler increased their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Raymond James upped their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. 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, the company presently has an average rating of “Hold” and a consensus target price of $19.60.

NOV Stock Performance

NYSE NOV opened at $14.96 on Friday. The company’s 50 day simple moving average is $15.00 and its two-hundred day simple moving average is $15.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The stock has a market capitalization of $5.70 billion, a PE ratio of 9.29, a P/E/G ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last issued 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 return on equity of 9.88% and a net margin of 7.16%. Analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s payout ratio is 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.