Rhumbline Advisers Sells 149,773 Shares of NOV Inc. $NOV

Rhumbline Advisers decreased its position in shares of NOV Inc. (NYSE:NOV) by 12.7% during the third quarter, HoldingsChannel reports. The fund owned 1,031,398 shares of the oil and gas exploration company’s stock after selling 149,773 shares during the quarter. Rhumbline Advisers’ holdings in NOV were worth $13,666,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Profund Advisors LLC grew its holdings in NOV by 6.7% during the 3rd quarter. Profund Advisors LLC now owns 37,518 shares of the oil and gas exploration company’s stock valued at $497,000 after purchasing an additional 2,349 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of NOV by 10.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 145,993 shares of the oil and gas exploration company’s stock valued at $1,934,000 after buying an additional 13,422 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of NOV by 2.5% during the third quarter. Envestnet Asset Management Inc. now owns 718,544 shares of the oil and gas exploration company’s stock valued at $9,521,000 after buying an additional 17,851 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of NOV by 114.0% in the third quarter. Hantz Financial Services Inc. now owns 7,832 shares of the oil and gas exploration company’s stock worth $104,000 after buying an additional 4,172 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in shares of NOV by 442.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 20,465 shares of the oil and gas exploration company’s stock worth $276,000 after acquiring an additional 16,690 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. BMO Capital Markets upped their price objective on NOV from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Monday, February 9th. Susquehanna restated a “positive” rating and issued a $21.00 price target on shares of NOV in a report on Friday, February 6th. Evercore set a $19.00 price target on shares of NOV in a research note on Friday, February 6th. Royal Bank Of Canada reissued an “outperform” rating and issued a $21.00 price objective on shares of NOV in a research report on Thursday, January 15th. Finally, Piper Sandler raised their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, NOV presently has an average rating of “Hold” and an average price target of $18.36.

NOV Stock Up 1.2%

NYSE:NOV opened at $20.23 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $20.35. The company has a 50-day moving average of $17.57 and a 200 day moving average of $15.11. The firm has a market cap of $7.29 billion, a PE ratio of 53.25 and a beta of 0.93.

NOV (NYSE:NOV) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a net margin of 1.66% and a return on equity of 3.57%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the prior year, the firm posted $0.41 EPS. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

About NOV

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.