CoreCommodity Management LLC Has $629,000 Stock Position in NOV Inc. (NYSE:NOV)

CoreCommodity Management LLC lessened its stake in shares of NOV Inc. (NYSE:NOV) by 47.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,063 shares of the oil and gas exploration company’s stock after selling 38,402 shares during the period. CoreCommodity Management LLC’s holdings in NOV were worth $629,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Huntington National Bank boosted its holdings in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares during the period. Covestor Ltd lifted its position in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. Signaturefd LLC grew its holdings in shares of NOV by 41.3% during the 4th 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 in the last quarter. Finally, CoreFirst Bank & Trust acquired a new position in shares of NOV in the fourth quarter worth $41,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 0.1 %

NOV stock opened at $11.90 on Wednesday. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The firm has a market capitalization of $4.47 billion, a PE ratio of 7.39, a PEG ratio of 1.02 and a beta of 1.27. The business’s 50-day simple moving average is $13.38 and its 200-day simple moving average is $14.64.

NOV (NYSE:NOV) last issued its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 20.00%.

Analyst Ratings Changes

A number of research analysts have commented on NOV shares. Stifel Nicolaus lowered their target price on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. JPMorgan Chase & Co. lowered their price target on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. The Goldman Sachs Group cut their price objective on shares of NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a research report on Thursday, April 10th. Barclays decreased their target price on shares of NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Finally, Royal Bank of Canada reduced their price objective on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.00.

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.