Coldstream Capital Management Inc. Purchases Shares of 10,104 NOV Inc. (NYSE:NOV)

Coldstream Capital Management Inc. acquired a new stake in NOV Inc. (NYSE:NOV) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,104 shares of the oil and gas exploration company’s stock, valued at approximately $148,000.

Several other institutional investors have also recently added to or reduced their stakes in NOV. Harbor Capital Advisors Inc. grew its holdings in NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after buying an additional 56,665 shares during the period. Greenhaven Associates Inc. raised its stake in NOV by 61.7% during the fourth 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 during the period. Barclays PLC boosted its holdings in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of NOV by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the period. Finally, SG Americas Securities LLC raised its position in shares of NOV by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock worth $5,798,000 after buying an additional 20,952 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Up 3.3 %

Shares of NYSE:NOV opened at $12.27 on Friday. The company’s fifty day moving average is $13.50 and its two-hundred day moving average is $14.70. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last issued its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.30 EPS. Equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 18.63%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank of Canada dropped their price target on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday. Barclays cut their price target on shares of NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Piper Sandler cut their target price on shares of NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company upped their price target on shares of NOV from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average target price of $18.00.

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.