CoreFirst Bank & Trust Purchases New Position in NOV Inc. (NYSE:NOV)

CoreFirst Bank & Trust acquired a new position in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,830 shares of the oil and gas exploration company’s stock, valued at approximately $41,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. LPL Financial LLC lifted its position in NOV by 23.7% during the 4th quarter. LPL Financial LLC now owns 59,340 shares of the oil and gas exploration company’s stock worth $866,000 after acquiring an additional 11,364 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of NOV during the fourth quarter worth $1,190,000. AXQ Capital LP boosted its stake in shares of NOV by 557.1% in the fourth quarter. AXQ Capital LP now owns 106,202 shares of the oil and gas exploration company’s stock valued at $1,551,000 after purchasing an additional 90,040 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in NOV during the 4th quarter valued at $685,000. Finally, American Century Companies Inc. increased its stake in NOV by 416.5% during the 4th quarter. American Century Companies Inc. now owns 648,506 shares of the oil and gas exploration company’s stock worth $9,468,000 after buying an additional 522,941 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.47 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business has a 50 day moving average of $15.00 and a two-hundred day moving average of $15.40. The company has a market cap of $5.89 billion, a P/E ratio of 9.61, a PEG ratio of 1.02 and a beta of 1.66. NOV Inc. has a 52 week low of $13.78 and a 52 week high of $21.20.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping 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%. As a group, analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.94%. NOV’s dividend payout ratio is presently 18.63%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Raymond James raised their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI reissued an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. 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 report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.60.

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.