Blue Trust Inc. Raises Position in NOV Inc. (NYSE:NOV)

Blue Trust Inc. boosted its holdings in NOV Inc. (NYSE:NOV) by 57.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,244 shares of the oil and gas exploration company’s stock after acquiring an additional 3,385 shares during the quarter. Blue Trust Inc.’s holdings in NOV were worth $148,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Creative Planning grew its stake in shares of NOV by 29.8% in the second quarter. Creative Planning now owns 33,815 shares of the oil and gas exploration company’s stock worth $643,000 after acquiring an additional 7,757 shares during the period. Truist Financial Corp grew its holdings in NOV by 3.4% during the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock valued at $565,000 after purchasing an additional 991 shares during the period. Sanctuary Advisors LLC purchased a new stake in NOV in the second quarter worth about $285,000. Diversified Trust Co purchased a new position in shares of NOV during the 3rd quarter valued at about $595,000. Finally, nVerses Capital LLC bought a new position in shares of NOV during the 3rd quarter valued at approximately $487,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.85% of the stock is owned by insiders.

Analyst Ratings Changes

NOV has been the topic of several analyst reports. Stifel Nicolaus lowered their price target on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. TD Cowen cut their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Susquehanna dropped their price objective on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. ATB Capital restated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Finally, Evercore ISI reiterated an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.64.

NOV Trading Up 12.5 %

Shares of NOV stock opened at $16.41 on Thursday. The stock’s 50 day simple moving average is $14.93 and its two-hundred day simple moving average is $16.16. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20. The company has a market cap of $6.38 billion, a PE ratio of 6.05, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 12.05% and a return on equity of 10.82%. Research analysts predict that NOV Inc. will post 1.53 earnings per share for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.83%. NOV’s dividend payout ratio is currently 11.07%.

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.