NOV Inc. (NYSE:NOV) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its position in NOV Inc. (NYSE:NOVGet Rating) by 6.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,102 shares of the oil and gas exploration company’s stock after acquiring an additional 1,440 shares during the period. Truist Financial Corp’s holdings in NOV were worth $406,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Covestor Ltd increased its holdings in shares of NOV by 94.4% in the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after acquiring an additional 625 shares during the period. Washington Trust Advisors Inc. acquired a new position in NOV during the 2nd quarter valued at about $25,000. Allworth Financial LP increased its stake in NOV by 288.6% during the 3rd quarter. Allworth Financial LP now owns 1,531 shares of the oil and gas exploration company’s stock valued at $25,000 after buying an additional 1,137 shares during the period. Citizens National Bank Trust Department acquired a new position in NOV during the 2nd quarter valued at about $48,000. Finally, Wipfli Financial Advisors LLC acquired a new position in NOV during the 3rd quarter valued at about $93,000. Institutional investors and hedge funds own 94.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. StockNews.com assumed coverage on shares of NOV in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Citigroup raised shares of NOV from a “neutral” rating to a “buy” rating and set a $25.00 target price on the stock in a research note on Wednesday, October 12th. Bank of America raised shares of NOV from a “neutral” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Friday, September 30th. Susquehanna Bancshares reduced their price objective on shares of NOV from $27.00 to $25.00 in a research report on Monday, October 31st. Finally, Raymond James initiated coverage on shares of NOV in a research report on Friday, December 9th. They set an “outperform” rating and a $30.00 price objective for the company. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.67.

NOV Stock Performance

Shares of NOV opened at $23.40 on Wednesday. NOV Inc. has a one year low of $13.98 and a one year high of $24.25. The company has a 50-day moving average of $21.58 and a two-hundred day moving average of $19.41. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of 780.26 and a beta of 1.83. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.30 and a quick ratio of 1.52.

NOV (NYSE:NOVGet Rating) last posted its quarterly earnings results on Thursday, October 27th. The oil and gas exploration company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.07). The company had revenue of $1.89 billion for the quarter, compared to analyst estimates of $1.81 billion. NOV had a return on equity of 0.54% and a net margin of 0.16%. On average, equities research analysts expect that NOV Inc. will post 0.43 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 9th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Thursday, December 8th. NOV’s dividend payout ratio is currently 666.89%.

Insider Buying and Selling

In related news, insider Isaac H. Joseph sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $22.77, for a total transaction of $56,925.00. Following the transaction, the insider now owns 190,611 shares of the company’s stock, valued at $4,340,212.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Christy Lynn Novak sold 4,575 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $23.17, for a total transaction of $106,002.75. Following the transaction, the chief accounting officer now owns 64,086 shares of the company’s stock, valued at $1,484,872.62. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Isaac H. Joseph sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 1st. The shares were sold at an average price of $22.77, for a total transaction of $56,925.00. Following the transaction, the insider now directly owns 190,611 shares in the company, valued at approximately $4,340,212.47. The disclosure for this sale can be found here. 1.59% of the stock is currently owned by corporate insiders.

NOV Company Profile

(Get Rating)

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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