NOV Inc. $NOV Shares Sold by Vestcor Inc

Vestcor Inc lessened its stake in shares of NOV Inc. (NYSE:NOV) by 83.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,059 shares of the oil and gas exploration company’s stock after selling 25,519 shares during the quarter. Vestcor Inc’s holdings in NOV were worth $79,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. EverSource Wealth Advisors LLC lifted its position in shares of NOV by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock valued at $115,000 after acquiring an additional 611 shares during the last quarter. Allworth Financial LP lifted its position in shares of NOV by 37.9% during the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 709 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of NOV by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 116,720 shares of the oil and gas exploration company’s stock valued at $1,547,000 after purchasing an additional 724 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of NOV by 2.6% in the third quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock valued at $385,000 after purchasing an additional 743 shares in the last quarter. Finally, Rothschild Investment LLC lifted its holdings in shares of NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 780 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE:NOV opened at $21.09 on Thursday. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. NOV Inc. has a 1 year low of $11.77 and a 1 year high of $21.55. The business has a fifty day simple moving average of $20.07 and a 200 day simple moving average of $18.58. The firm has a market cap of $7.57 billion, a price-to-earnings ratio of 87.87 and a beta of 0.89.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $0.19 earnings per share. NOV’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that NOV Inc. will post 0.91 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.09 per share. This represents a yield of 180.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV’s dividend payout ratio is presently 150.00%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Thursday, June 4th. Stifel Nicolaus increased their target price on NOV from $21.00 to $23.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays restated an “underweight” rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a report on Thursday, May 7th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group set a $19.00 target price on NOV in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $20.43.

NOV Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.