NOV Inc. (NYSE:NOV) Shares Acquired by ProShare Advisors LLC

ProShare Advisors LLC increased its position in shares of NOV Inc. (NYSE:NOV) by 6.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,204 shares of the oil and gas exploration company’s stock after buying an additional 1,042 shares during the quarter. ProShare Advisors LLC’s holdings in NOV were worth $266,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NOV. Barclays PLC boosted its holdings in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of NOV by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock worth $44,089,000 after acquiring an additional 91,800 shares during the last quarter. Signaturefd LLC boosted its stake in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 756 shares during the last quarter. Savant Capital LLC acquired a new stake in NOV during the fourth quarter worth approximately $234,000. Finally, Verity Asset Management Inc. acquired a new stake in shares of NOV during the fourth quarter worth $335,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on NOV shares. The Goldman Sachs Group cut their price objective on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Piper Sandler dropped their target price on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Stifel Nicolaus cut their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Finally, Royal Bank of Canada decreased their price target on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average price target of $17.50.

NOV Stock Down 2.3%

NYSE:NOV opened at $12.00 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock’s 50 day moving average price is $12.61 and its two-hundred day moving average price is $14.24. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV) last announced its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the previous year, the firm posted $0.30 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 3.63%. NOV’s payout ratio is presently 20.00%.

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.