Savant Capital LLC Reduces Stock Position in NOV Inc. $NOV

Savant Capital LLC cut its stake in NOV Inc. (NYSE:NOV) by 58.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 24,480 shares of the oil and gas exploration company’s stock after selling 34,794 shares during the quarter. Savant Capital LLC’s holdings in NOV were worth $304,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in NOV. Banque Cantonale Vaudoise bought a new position in NOV in the 1st quarter worth about $25,000. Hantz Financial Services Inc. lifted its holdings in shares of NOV by 395.3% in the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after buying an additional 2,921 shares in the last quarter. Signaturefd LLC boosted its position in shares of NOV by 33.2% in the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares during the period. Quarry LP grew its stake in NOV by 119.7% during the first quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock valued at $52,000 after acquiring an additional 1,856 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in NOV by 123.8% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock worth $67,000 after acquiring an additional 2,975 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup boosted their price target on shares of NOV from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “hold (c-)” rating on shares of NOV in a research report on Wednesday, October 8th. Royal Bank Of Canada upped their target price on NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. The Goldman Sachs Group lifted their price target on NOV from $12.00 to $14.00 and gave the company a “sell” rating in a research report on Wednesday, November 5th. Finally, Barclays decreased their price objective on shares of NOV from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Tuesday, November 11th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.54.

NOV Price Performance

NOV opened at $15.33 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.59 billion, a P/E ratio of 15.33, a PEG ratio of 4.73 and a beta of 1.25. The stock has a 50-day moving average price of $13.83 and a 200-day moving average price of $13.18. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $16.84.

NOV (NYSE:NOV) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The business’s revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 earnings per share. Equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

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.