Ninety One UK Ltd Sells 25,063 Shares of NOV Inc. (NYSE:NOV)

Ninety One UK Ltd reduced its holdings in NOV Inc. (NYSE:NOV) by 0.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,885,704 shares of the oil and gas exploration company’s stock after selling 25,063 shares during the quarter. Ninety One UK Ltd owned about 0.74% of NOV worth $42,131,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in NOV. Quarry LP purchased a new position in NOV during the 3rd quarter valued at $36,000. UMB Bank n.a. increased its position in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. International Assets Investment Management LLC raised its stake in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares in the last quarter. Brooklyn Investment Group bought a new position in NOV in the third quarter worth about $48,000. Finally, R Squared Ltd purchased a new stake in NOV in the fourth quarter worth about $44,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOV has been the subject of several research reports. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. TD Cowen dropped their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. 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 research note on Monday, October 14th. Finally, Wells Fargo & Company dropped their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $20.00.

NOV Price Performance

Shares of NYSE:NOV opened at $14.58 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of 5.38, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. The business has a 50-day simple moving average of $14.92 and a two-hundred day simple moving average of $16.16. NOV Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $21.20.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 12.05% and a return on equity of 10.82%. On average, analysts expect that NOV Inc. will post 1.53 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.06%. NOV’s dividend payout ratio (DPR) is currently 11.07%.

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.