Mutual of America Capital Management LLC Trims Position in NOV Inc. (NYSE:NOV)

Mutual of America Capital Management LLC trimmed its stake in shares of NOV Inc. (NYSE:NOV) by 3.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 226,462 shares of the oil and gas exploration company’s stock after selling 8,260 shares during the period. Mutual of America Capital Management LLC owned 0.06% of NOV worth $4,305,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Wedmont Private Capital grew its stake in NOV by 5.2% during the first quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock valued at $263,000 after acquiring an additional 643 shares in the last quarter. Mather Group LLC. lifted its position in NOV by 17.2% during the second quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 839 shares during the last quarter. GAMMA Investing LLC lifted its position in NOV by 18.2% during the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock valued at $104,000 after purchasing an additional 848 shares during the last quarter. Quadrature Capital Ltd lifted its position in NOV by 3.1% during the first quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock valued at $576,000 after purchasing an additional 889 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in NOV by 7.5% during the first quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 1,194 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

NOV stock opened at $16.90 on Monday. The company has a market capitalization of $6.68 billion, a PE ratio of 6.79, a P/E/G ratio of 0.47 and a beta of 1.67. NOV Inc. has a 12 month low of $15.47 and a 12 month high of $21.71. The firm’s 50-day moving average is $17.86 and its 200 day moving average is $18.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.35 by $0.22. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.39 EPS. On average, research analysts anticipate that NOV Inc. will post 1.63 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, September 13th. NOV’s dividend payout ratio (DPR) is 12.05%.

Analyst Upgrades and Downgrades

Several research firms have commented on NOV. Barclays increased their price objective on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Morgan Stanley lowered their price objective on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Bank of America lowered their price objective on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Finally, TD Cowen raised their target price on shares of NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $24.42.

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.