Corient Private Wealth LLC Buys 2,198 Shares of NOV Inc. (NYSE:NOV)

Corient Private Wealth LLC raised its stake in NOV Inc. (NYSE:NOV) by 17.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,506 shares of the oil and gas exploration company’s stock after purchasing an additional 2,198 shares during the quarter. Corient Private Wealth LLC’s holdings in NOV were worth $212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NOV. Verum Partners LLC boosted its holdings in shares of NOV by 9.0% during the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after purchasing an additional 1,248 shares during the period. UMB Bank n.a. lifted its holdings in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock worth $271,000 after buying an additional 1,656 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its stake in shares of NOV by 3.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after buying an additional 2,040 shares during the period. Finally, Quarry LP bought a new position in shares of NOV during the third quarter valued at approximately $36,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on NOV shares. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. ATB Capital reiterated a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, NOV presently has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Trading Up 1.2 %

NOV stock opened at $15.41 on Wednesday. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business’s fifty day simple moving average is $14.99 and its two-hundred day simple moving average is $15.38. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date was Friday, March 14th. NOV’s payout ratio is 18.63%.

NOV 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.