Victory Capital Management Inc. Trims Position in NOV Inc. (NYSE:NOV)

Victory Capital Management Inc. decreased its holdings in NOV Inc. (NYSE:NOV) by 1.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,192 shares of the oil and gas exploration company’s stock after selling 1,191 shares during the quarter. Victory Capital Management Inc.’s holdings in NOV were worth $1,581,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in NOV. Boston Partners bought a new position in NOV in the 1st quarter worth $119,686,000. Balyasny Asset Management L.P. raised its stake in NOV by 769.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after buying an additional 5,456,581 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in NOV by 67.2% in the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after buying an additional 3,989,095 shares during the period. Pzena Investment Management LLC lifted its holdings in NOV by 12.7% in the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock worth $684,618,000 after buying an additional 3,946,504 shares during the period. Finally, SG Americas Securities LLC boosted its position in NOV by 779.9% during the 1st quarter. SG Americas Securities LLC now owns 858,823 shares of the oil and gas exploration company’s stock valued at $16,764,000 after acquiring an additional 761,219 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Up 0.3 %

NYSE:NOV opened at $16.44 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The firm has a market cap of $6.50 billion, a P/E ratio of 6.60, a P/E/G ratio of 0.47 and a beta of 1.67. NOV Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $21.71. The firm has a 50-day simple moving average of $17.94 and a two-hundred day simple moving average of $18.39.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.22. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 earnings per share. Analysts predict that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Friday, September 13th. NOV’s dividend payout ratio is currently 12.05%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Morgan Stanley decreased their target price on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Monday, July 29th. TD Cowen boosted their target price on shares of NOV from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Bank of America reduced their target price on shares of NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Benchmark reissued a “hold” rating on shares of NOV in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.42.

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.