NOV Inc. (NYSE:NOV) Holdings Decreased by Narwhal Capital Management

Narwhal Capital Management lowered its stake in NOV Inc. (NYSE:NOV) by 33.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,767 shares of the oil and gas exploration company’s stock after selling 94,682 shares during the quarter. Narwhal Capital Management’s holdings in NOV were worth $2,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. UMB Bank n.a. lifted its stake in shares of 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 acquiring an additional 1,612 shares during the period. Quarry LP bought a new stake in NOV during the third quarter worth approximately $36,000. American National Bank & Trust acquired a new stake in NOV in the third quarter worth approximately $39,000. International Assets Investment Management LLC boosted its stake in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of NOV during the 3rd quarter valued at $48,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $14.87 on Monday. NOV Inc. has a 12 month low of $13.94 and a 12 month high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.78 billion, a PE ratio of 5.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.66. The business has a fifty day simple moving average of $15.16 and a 200-day simple moving average of $16.38.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.02%. NOV’s payout ratio is presently 11.07%.

Insider Buying and Selling at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and cut their price objective for the company from $21.00 to $18.00 in a report on Monday, November 11th. TD Cowen cut their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Piper Sandler assumed coverage on shares of NOV in a research note on Thursday, December 19th. They set a “neutral” rating and a $17.00 target price for the company. Finally, Wells Fargo & Company reduced their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.00.

About NOV

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.