TCW Group Inc. Sells 43,058 Shares of NOV Inc. (NYSE:NOV)

TCW Group Inc. lessened its stake in shares of NOV Inc. (NYSE:NOV) by 39.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,140 shares of the oil and gas exploration company’s stock after selling 43,058 shares during the period. TCW Group Inc.’s holdings in NOV were worth $980,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP bought a new position in NOV during the 3rd quarter worth $36,000. UMB Bank n.a. increased its stake in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares during the period. International Assets Investment Management LLC increased its stake in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares during the period. Brooklyn Investment Group bought a new position in shares of NOV in the 3rd quarter valued at $48,000. Finally, R Squared Ltd bought a new position in shares of NOV in the 4th quarter valued at $44,000. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the topic of several recent analyst reports. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Piper Sandler lifted their price target on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James lifted their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Down 0.8 %

Shares of NOV opened at $15.00 on Tuesday. The company has a market capitalization of $5.71 billion, a PE ratio of 9.31, a PEG ratio of 1.02 and a beta of 1.64. NOV Inc. has a 12 month low of $13.94 and a 12 month high of $21.20. The stock’s 50-day moving average price is $14.95 and its two-hundred day moving average price is $15.84. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is presently 18.63%.

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.