Park Avenue Securities LLC Has $257,000 Position in NOV Inc. (NYSE:NOV)

Park Avenue Securities LLC lessened its holdings in NOV Inc. (NYSE:NOV) by 6.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,064 shares of the oil and gas exploration company’s stock after selling 1,074 shares during the period. Park Avenue Securities LLC’s holdings in NOV were worth $257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC raised its holdings in shares of NOV by 34.0% in the 3rd quarter. SG Americas Securities LLC now owns 376,197 shares of the oil and gas exploration company’s stock worth $6,008,000 after buying an additional 95,468 shares in the last quarter. American National Bank & Trust acquired a new position in NOV during the third quarter worth $39,000. Greenhaven Associates Inc. lifted its holdings in shares of NOV by 13.1% during the third quarter. Greenhaven Associates Inc. now owns 2,035,376 shares of the oil and gas exploration company’s stock valued at $32,505,000 after acquiring an additional 236,400 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NOV in the 2nd quarter valued at $125,000. Finally, Sanctuary Advisors LLC acquired a new stake in shares of NOV during the 2nd quarter worth about $285,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $16.39 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. NOV Inc. has a twelve month low of $15.47 and a twelve month high of $21.53. The business’s fifty day moving average is $16.93 and its 200-day moving average is $18.13. The company has a market cap of $6.48 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last posted its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 EPS. Equities research analysts forecast that NOV Inc. will post 1.64 EPS for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. NOV’s dividend payout ratio is 12.05%.

Analysts Set New Price Targets

A number of research firms have commented on NOV. Morgan Stanley reduced their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Barclays increased their price target on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. JPMorgan Chase & Co. lowered their target price on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.93.

NOV Company 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.