FORVIS Wealth Advisors LLC Has $356,000 Stock Position in NOV Inc. (NYSE:NOV)

FORVIS Wealth Advisors LLC cut its stake in shares of NOV Inc. (NYSE:NOV) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,255 shares of the oil and gas exploration company’s stock after selling 588 shares during the period. FORVIS Wealth Advisors LLC’s holdings in NOV were worth $356,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its holdings in shares of NOV by 10.8% in the 4th quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 536 shares in the last quarter. Nisa Investment Advisors LLC grew its position in NOV by 1.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock valued at $1,020,000 after acquiring an additional 580 shares during the last quarter. Wedmont Private Capital raised its stake in NOV by 5.2% during the first quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock worth $263,000 after acquiring an additional 643 shares in the last quarter. Amalgamated Bank raised its stake in NOV by 0.4% during the fourth quarter. Amalgamated Bank now owns 251,686 shares of the oil and gas exploration company’s stock worth $5,104,000 after acquiring an additional 1,034 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its stake in shares of NOV by 7.5% in the 1st quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 1,194 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

NOV has been the subject of several research reports. Susquehanna reissued a “positive” rating and issued a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. TD Cowen reduced their price objective on NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.07.

NOV Trading Down 1.6 %

Shares of NOV stock traded down $0.29 during mid-day trading on Friday, hitting $18.21. The company’s stock had a trading volume of 217,261 shares, compared to its average volume of 3,757,887. NOV Inc. has a 52 week low of $15.72 and a 52 week high of $21.91. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. The company’s fifty day simple moving average is $18.42 and its 200-day simple moving average is $18.80. The company has a market cap of $7.20 billion, a PE ratio of 7.43, a P/E/G ratio of 0.58 and a beta of 1.70.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 earnings per share. As a group, equities research analysts expect that NOV Inc. will post 1.56 earnings per share for the current fiscal year.

NOV Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.075 dividend. This is an increase from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.65%. The ex-dividend date was Friday, June 14th. NOV’s payout ratio is 12.05%.

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.