SG Americas Securities LLC Acquires 30,562 Shares of NOV Inc. (NYSE:NOV)

SG Americas Securities LLC lifted its holdings in shares of NOV Inc. (NYSE:NOV) by 45.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,604 shares of the oil and gas exploration company’s stock after acquiring an additional 30,562 shares during the quarter. SG Americas Securities LLC’s holdings in NOV were worth $1,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOV. Burns Matteson Capital Management LLC purchased a new position in NOV during the 4th quarter valued at $614,000. Bruce G. Allen Investments LLC purchased a new position in shares of NOV during the fourth quarter valued at about $49,000. Greenhaven Associates Inc. raised its stake in NOV by 1.8% in the fourth quarter. Greenhaven Associates Inc. now owns 1,590,400 shares of the oil and gas exploration company’s stock worth $32,253,000 after buying an additional 28,500 shares in the last quarter. Wedmont Private Capital lifted its holdings in NOV by 10.9% in the fourth quarter. Wedmont Private Capital now owns 12,349 shares of the oil and gas exploration company’s stock worth $250,000 after buying an additional 1,210 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its position in NOV by 93.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 134,503 shares of the oil and gas exploration company’s stock valued at $2,811,000 after acquiring an additional 65,006 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Christy Lynn Novak sold 3,500 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now directly owns 114,212 shares of the company’s stock, valued at approximately $1,990,715.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.77% of the stock is currently owned by insiders.

NOV Stock Up 0.8 %

NOV stock opened at $19.20 on Thursday. The stock has a market capitalization of $7.56 billion, a P/E ratio of 7.65, a P/E/G ratio of 0.36 and a beta of 1.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.40 and a quick ratio of 1.51. NOV Inc. has a 1-year low of $14.05 and a 1-year high of $21.91. The business has a fifty day moving average price of $18.29 and a 200-day moving average price of $19.31.

NOV (NYSE:NOV) last issued its earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. The business had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. NOV had a return on equity of 10.79% and a net margin of 11.57%. NOV’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.26 EPS. Equities analysts forecast that NOV Inc. will post 1.54 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Thursday, March 14th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.04%. NOV’s dividend payout ratio (DPR) is 7.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NOV. Piper Sandler decreased their target price on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Raymond James reduced their target price on shares of NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a research note on Tuesday, February 6th. Finally, Benchmark lowered shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NOV has an average rating of “Hold” and an average target price of $24.36.

About NOV

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.