Legal & General Group Plc trimmed its holdings in shares of NOV Inc. (NYSE:NOV – Free Report) by 5.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 589,513 shares of the oil and gas exploration company’s stock after selling 34,022 shares during the period. Legal & General Group Plc’s holdings in NOV were worth $9,214,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in NOV during the fourth quarter valued at $28,000. Allworth Financial LP increased its position in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. UMB Bank n.a. increased its position in NOV by 114.1% in the 3rd quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after purchasing an additional 1,657 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in NOV in the 4th quarter worth about $68,000. Finally, Horizon Investments LLC acquired a new position in NOV in the 4th quarter worth about $68,000. 93.27% of the stock is owned by institutional investors and hedge funds.
NOV Stock Performance
Shares of NYSE NOV opened at $21.53 on Friday. The business’s 50-day simple moving average is $19.96 and its 200-day simple moving average is $18.42. NOV Inc. has a 52 week low of $11.77 and a 52 week high of $21.55. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 89.73 and a beta of 0.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47.
NOV Announces Dividend
The firm also recently announced a special dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be paid a dividend of $0.09 per share. The ex-dividend date is Friday, June 12th. This represents a yield of 180.0%. NOV’s dividend payout ratio is presently 150.00%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. BMO Capital Markets upped their target price on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. Morgan Stanley upped their target price on NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Royal Bank Of Canada upped their target price on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Citigroup upped their target price on NOV from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.43.
Get Our Latest Stock Analysis on NOV
NOV Profile
National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.
NOV’s business is organized to serve upstream energy companies around the world.
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