Kiltearn Partners LLP Lowers Stock Holdings in NOV Inc. $NOV

Kiltearn Partners LLP lowered its stake in NOV Inc. (NYSE:NOV) by 6.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 516,700 shares of the oil and gas exploration company’s stock after selling 37,500 shares during the period. NOV makes up approximately 1.3% of Kiltearn Partners LLP’s portfolio, making the stock its 23rd biggest holding. Kiltearn Partners LLP’s holdings in NOV were worth $6,423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Banque Cantonale Vaudoise acquired a new position in NOV in the 1st quarter valued at $25,000. Hantz Financial Services Inc. increased its position in NOV by 395.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock worth $45,000 after purchasing an additional 2,921 shares during the period. Signaturefd LLC lifted its holdings in shares of NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after buying an additional 931 shares during the period. Quarry LP grew its holdings 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 worth $52,000 after acquiring an additional 1,856 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in NOV by 123.8% in the second 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 in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on NOV. Piper Sandler lowered their price target on shares of NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Royal Bank Of Canada upped their target price on shares of NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. cut shares of NOV from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $17.00 to $15.00 in a report on Wednesday, July 30th. Susquehanna set a $17.00 price target on NOV and gave the stock a “positive” rating in a research note on Wednesday, July 30th. Finally, Stifel Nicolaus lifted their price objective on NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $15.54.

NOV Price Performance

Shares of NYSE:NOV opened at $15.07 on Thursday. NOV Inc. has a one year low of $10.84 and a one year high of $16.66. The stock has a market cap of $5.50 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. The business’s fifty day moving average price is $14.06 and its two-hundred day moving average price is $13.29. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.55.

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

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.30 annualized dividend and a dividend yield of 2.0%. NOV’s dividend payout ratio is presently 30.00%.

Insider Transactions at NOV

In other news, Director Christian S. Kendall bought 70,000 shares of the stock in a transaction on Friday, November 21st. The stock was purchased at an average cost of $14.46 per share, with a total value of $1,012,200.00. Following the purchase, the director owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. The trade was a 438.90% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.08% of the company’s stock.

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.