Covestor Ltd Increases Stake in NOV Inc. (NYSE:NOV)

Covestor Ltd boosted its position in shares of NOV Inc. (NYSE:NOV) by 282.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,240 shares of the oil and gas exploration company’s stock after purchasing an additional 1,655 shares during the period. Covestor Ltd’s holdings in NOV were worth $33,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares during the period. Huntington National Bank boosted its stake in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 1,034 shares during the period. Verum Partners LLC grew its holdings in shares of NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after purchasing an additional 1,248 shares during the last quarter. UMB Bank n.a. increased its stake in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NOV shares. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Stifel Nicolaus cut their price target on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday. The Goldman Sachs Group lowered their price objective on shares of NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Finally, Raymond James raised their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.00.

NOV Trading Down 0.0 %

NOV stock opened at $12.03 on Wednesday. NOV Inc. has a one year low of $10.84 and a one year high of $21.20. The stock has a market cap of $4.58 billion, a PE ratio of 7.47, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a 50-day moving average of $14.39 and a two-hundred day moving average of $15.05.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, research analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.49%. NOV’s dividend payout ratio is currently 18.63%.

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.