Ossiam acquired a new position in shares of NOV Inc. (NYSE:NOV – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,269 shares of the oil and gas exploration company’s stock, valued at approximately $27,000.
Other large investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in NOV by 94.4% during the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after buying an additional 625 shares during the period. National Bank of Canada FI acquired a new stake in shares of NOV during the 4th quarter worth $30,000. Belpointe Asset Management LLC acquired a new stake in shares of NOV during the 4th quarter worth $31,000. Signaturefd LLC grew its holdings in shares of NOV by 243.3% during the 3rd quarter. Signaturefd LLC now owns 3,162 shares of the oil and gas exploration company’s stock worth $51,000 after purchasing an additional 2,241 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of NOV by 166.9% during the 4th quarter. IFP Advisors Inc now owns 3,728 shares of the oil and gas exploration company’s stock worth $54,000 after purchasing an additional 2,331 shares in the last quarter. Institutional investors own 94.18% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on NOV. Citigroup reduced their target price on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Piper Sandler cut their price target on NOV from $22.00 to $21.00 in a research note on Monday, May 1st. Barclays lowered their price objective on NOV from $25.00 to $20.00 in a research report on Monday, May 1st. Susquehanna lowered their price objective on NOV from $29.00 to $26.00 in a research report on Monday, April 3rd. Finally, Morgan Stanley lowered their price objective on NOV from $24.00 to $22.00 in a research report on Tuesday, April 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.13.
NOV Price Performance
NOV (NYSE:NOV – Get Rating) last announced its earnings results on Wednesday, April 26th. The oil and gas exploration company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. NOV had a return on equity of 6.51% and a net margin of 4.33%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.13) EPS. As a group, equities analysts anticipate that NOV Inc. will post 1.32 EPS for the current fiscal year.
NOV Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.05 dividend. The ex-dividend date is Thursday, June 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.29%. NOV’s dividend payout ratio is currently 23.81%.
NOV Company Profile
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 focuses on the engineering, manufacturing, and support of advanced drilling equipment packages and related capital equipment for oil and gas wells.
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