SIR Capital Management L.P. Sells 1,280,919 Shares of NOV Inc. (NYSE:NOV)

SIR Capital Management L.P. decreased its position in shares of NOV Inc. (NYSE:NOV) by 88.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,467 shares of the oil and gas exploration company’s stock after selling 1,280,919 shares during the period. SIR Capital Management L.P.’s holdings in NOV were worth $2,416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NOV. Barclays PLC boosted its position in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in NOV in the fourth quarter worth about $194,000. Assenagon Asset Management S.A. purchased a new stake in shares of NOV during the fourth quarter worth about $6,330,000. Finally, Hennessy Advisors Inc. increased its holdings in shares of NOV by 42.7% during the fourth quarter. Hennessy Advisors Inc. now owns 33,400 shares of the oil and gas exploration company’s stock valued at $488,000 after acquiring an additional 10,000 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on NOV. Raymond James lifted their target price on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. cut their price objective on NOV from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Susquehanna dropped their target price on NOV from $21.00 to $19.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada cut their price target on shares of NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Wednesday, April 30th. Finally, Piper Sandler decreased their price objective on shares of NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.00.

NOV Trading Down 1.8%

Shares of NOV stock opened at $12.88 on Friday. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The firm has a market cap of $4.84 billion, a PE ratio of 8.00, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The company has a 50-day moving average of $13.12 and a two-hundred day moving average of $14.52. 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 (NYSE:NOV) last posted its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. NOV’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 EPS. On average, analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 20.00%.

About NOV

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.