Edmond DE Rothschild Holding S.A. Sells 60,000 Shares of NOV Inc. $NOV

Edmond DE Rothschild Holding S.A. trimmed its stake in NOV Inc. (NYSE:NOV) by 6.0% in the second quarter, HoldingsChannel.com reports. The firm owned 940,000 shares of the oil and gas exploration company’s stock after selling 60,000 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in NOV were worth $11,684,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NOV. American Century Companies Inc. increased its stake in shares of NOV by 585.8% in the second quarter. American Century Companies Inc. now owns 5,291,529 shares of the oil and gas exploration company’s stock valued at $65,774,000 after buying an additional 4,519,957 shares during the period. First Pacific Advisors LP lifted its position in shares of NOV by 101.0% in the 2nd quarter. First Pacific Advisors LP now owns 7,018,950 shares of the oil and gas exploration company’s stock worth $87,246,000 after purchasing an additional 3,526,754 shares during the period. AQR Capital Management LLC boosted its stake in shares of NOV by 88.9% in the 1st quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company’s stock valued at $107,276,000 after purchasing an additional 3,362,853 shares during the last quarter. Nuveen LLC acquired a new stake in shares of NOV during the first quarter worth $33,742,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in NOV during the first quarter worth $23,589,000. Institutional investors own 93.27% of the company’s stock.

NOV Trading Up 0.7%

Shares of NOV stock opened at $15.06 on Tuesday. The stock has a market capitalization of $5.49 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.84. The stock has a 50 day moving average price of $13.98 and a two-hundred day moving average price of $13.26. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.55.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same period in the prior year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities analysts anticipate 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 will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date is Friday, December 5th. NOV’s dividend payout ratio (DPR) is currently 30.00%.

Analyst Ratings Changes

A number of analysts have commented on the stock. The Goldman Sachs Group upped their price target on shares of NOV from $12.00 to $14.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Piper Sandler cut their target price on NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Stifel Nicolaus increased their price target on NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Susquehanna set a $17.00 price objective on shares of NOV and gave the stock a “positive” rating in a research report on Wednesday, July 30th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.54.

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.