NOV Inc. (NYSE:NOV) Holdings Cut by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its stake in shares of NOV Inc. (NYSE:NOV) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 892,218 shares of the oil and gas exploration company’s stock after selling 19,192 shares during the period. Principal Financial Group Inc. owned 0.23% of NOV worth $13,026,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its position in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of NOV by 7.3% in the third quarter. State of Alaska Department of Revenue now owns 45,817 shares of the oil and gas exploration company’s stock worth $731,000 after buying an additional 3,100 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of NOV by 1.3% during the 3rd quarter. New York State Teachers Retirement System now owns 528,038 shares of the oil and gas exploration company’s stock worth $8,433,000 after acquiring an additional 6,554 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of NOV by 27.7% in the 3rd quarter. Pinnacle Associates Ltd. now owns 12,838 shares of the oil and gas exploration company’s stock valued at $205,000 after acquiring an additional 2,788 shares in the last quarter. Finally, HM Payson & Co. lifted its holdings in NOV by 2.1% in the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NOV opened at $15.02 on Friday. The stock has a market cap of $5.72 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20. The stock’s 50-day moving average price is $15.00 and its two-hundred day moving average price is $15.81. 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 released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.00%. NOV’s dividend payout ratio is currently 18.63%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOV. Piper Sandler upped their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada upped their target price on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Wells Fargo & Company cut their target price on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.60.

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.