Securian Asset Management Inc. Cuts Stake in NOV Inc. (NYSE:NOV)

Securian Asset Management Inc. cut its holdings in NOV Inc. (NYSE:NOV) by 3.9% during the fourth quarter, Holdings Channel reports. The firm owned 29,414 shares of the oil and gas exploration company’s stock after selling 1,201 shares during the quarter. Securian Asset Management Inc.’s holdings in NOV were worth $429,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC raised its position in shares of NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after buying an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after acquiring an additional 6,963,660 shares during the last quarter. Pacer Advisors Inc. grew its stake in NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Van ECK Associates Corp increased its holdings in NOV by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after acquiring an additional 938,866 shares during the last quarter. Finally, Greenhaven Associates Inc. lifted its stake in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NOV has been the subject of a number of research analyst reports. Raymond James raised their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada lifted their price objective on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Evercore ISI reiterated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Barclays boosted their price target on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler upped their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Up 2.1 %

Shares of NYSE:NOV opened at $14.61 on Tuesday. The firm has a market capitalization of $5.56 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business has a 50 day simple moving average of $14.97 and a two-hundred day simple moving average of $15.49. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, equities analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is presently 18.63%.

NOV Company 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.