Narwhal Capital Management Has $4.50 Million Stock Position in NOV Inc. (NYSE:NOV)

Narwhal Capital Management boosted its stake in shares of NOV Inc. (NYSE:NOV) by 23.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 281,449 shares of the oil and gas exploration company’s stock after purchasing an additional 53,691 shares during the quarter. Narwhal Capital Management’s holdings in NOV were worth $4,495,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NOV. Rothschild Investment LLC acquired a new stake in shares of NOV during the second quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in NOV during the 1st quarter valued at $39,000. American National Bank & Trust purchased a new stake in shares of NOV in the third quarter valued at $39,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of NOV in the second quarter worth $78,000. Finally, Signaturefd LLC grew its holdings in shares of NOV by 67.6% during the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock valued at $84,000 after buying an additional 1,792 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Price Performance

NYSE:NOV opened at $15.41 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. NOV Inc. has a one year low of $15.27 and a one year high of $21.23. The company has a fifty day moving average price of $16.69 and a 200 day moving average price of $17.96. The stock has a market cap of $6.10 billion, a P/E ratio of 6.19, a PEG ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. Analysts anticipate that NOV Inc. will post 1.64 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Friday, September 13th. NOV’s payout ratio is presently 12.05%.

Analyst Ratings Changes

A number of brokerages have commented on NOV. Piper Sandler decreased their price objective on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Bank of America decreased their price target on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays dropped their price objective on shares of NOV from $20.00 to $17.00 and set an “underweight” rating on the stock in a research note on Wednesday, October 16th. Evercore ISI upgraded NOV to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Wells Fargo & Company downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $20.00 to $16.00 in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.57.

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.