NOV Inc. $NOV Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its stake in NOV Inc. (NYSE:NOV) by 0.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,389,833 shares of the oil and gas exploration company’s stock after selling 319,057 shares during the period. NOV accounts for approximately 1.8% of Pzena Investment Management LLC’s portfolio, making the stock its 21st largest position. Pzena Investment Management LLC owned approximately 0.12% of NOV worth $561,665,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NOV. First Pacific Advisors LP grew its holdings in shares of NOV by 101.0% during the second quarter. First Pacific Advisors LP now owns 7,018,950 shares of the oil and gas exploration company’s stock worth $87,246,000 after buying an additional 3,526,754 shares during the last quarter. First Trust Advisors LP grew its position in NOV by 27.2% in the 2nd quarter. First Trust Advisors LP now owns 6,091,095 shares of the oil and gas exploration company’s stock valued at $75,712,000 after buying an additional 1,302,214 shares during the last quarter. Greenhaven Associates Inc. lifted its stake in shares of NOV by 15.4% in the 3rd quarter. Greenhaven Associates Inc. now owns 5,747,682 shares of the oil and gas exploration company’s stock worth $76,157,000 after acquiring an additional 765,166 shares during the period. American Century Companies Inc. boosted its holdings in NOV by 585.8% in the 2nd quarter. American Century Companies Inc. now owns 5,291,529 shares of the oil and gas exploration company’s stock valued at $65,774,000 after purchasing an additional 4,519,957 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of NOV by 401.9% in the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after buying an additional 2,534,815 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other NOV news, Director Christian S. Kendall bought 70,000 shares of the stock in a transaction on Friday, November 21st. The stock was purchased at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the purchase, the director directly owned 85,949 shares in the company, valued at approximately $1,242,822.54. This trade represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.08% of the company’s stock.

NOV Trading Up 4.9%

NOV opened at $20.01 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $20.11. The firm’s fifty day moving average price is $17.50 and its 200 day moving average price is $15.08. The stock has a market capitalization of $7.21 billion, a PE ratio of 52.65 and a beta of 0.93.

NOV (NYSE:NOV) last announced its quarterly earnings data on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a net margin of 1.66% and a return on equity of 3.57%. The firm had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the prior year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

NOV has been the topic of several research analyst reports. Argus upgraded shares of NOV to a “hold” rating in a research report on Tuesday, February 10th. Piper Sandler lifted their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Monday, December 29th. Evercore set a $19.00 target price on NOV in a research report on Friday, February 6th. Finally, Stifel Nicolaus boosted their price objective on shares of NOV from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, February 6th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $18.36.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.