NOV Inc. $NOV Shares Sold by Vestcor Inc

Vestcor Inc lowered its position in shares of NOV Inc. (NYSE:NOV) by 83.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,059 shares of the oil and gas exploration company’s stock after selling 25,519 shares during the quarter. Vestcor Inc’s holdings in NOV were worth $79,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada raised its position in shares of NOV by 15.6% during the 1st quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock worth $756,000 after purchasing an additional 6,711 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of NOV by 35.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after purchasing an additional 42,462 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NOV by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock worth $16,168,000 after purchasing an additional 157,385 shares during the period. Focus Partners Wealth acquired a new stake in shares of NOV during the 1st quarter worth approximately $214,000. Finally, Cetera Investment Advisers acquired a new stake in shares of NOV during the 2nd quarter worth approximately $190,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NOV. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. Susquehanna increased their price target on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Stifel Nicolaus increased their price target on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Citigroup increased their price target on NOV from $17.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group set a $19.00 price target on NOV in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, NOV currently has an average rating of “Hold” and an average target price of $20.43.

NOV Stock Performance

Shares of NOV stock opened at $21.09 on Thursday. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55. The firm has a market capitalization of $7.57 billion, a price-to-earnings ratio of 87.87 and a beta of 0.89. The business has a 50 day simple moving average of $20.07 and a 200 day simple moving average of $18.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.19 earnings per share. On average, equities research analysts anticipate that NOV Inc. will post 0.91 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be given a dividend of $0.09 per share. This represents a dividend yield of 180.0%. The ex-dividend date is Friday, June 12th. NOV’s dividend payout ratio is 150.00%.

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.