NOV Inc. (NYSE:NOV) Shares Sold by Ariel Investments LLC

Ariel Investments LLC reduced its holdings in NOV Inc. (NYSE:NOV) by 0.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,117,843 shares of the oil and gas exploration company’s stock after selling 4,975 shares during the period. Ariel Investments LLC owned approximately 0.54% of NOV worth $40,260,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of NOV. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of NOV in the second quarter valued at approximately $125,000. Point72 DIFC Ltd acquired a new position in shares of NOV during the 2nd quarter valued at about $272,000. Interval Partners LP purchased a new stake in shares of NOV in the second quarter valued at about $5,968,000. Gabelli Funds LLC increased its position in NOV by 333.1% during the second quarter. Gabelli Funds LLC now owns 46,807 shares of the oil and gas exploration company’s stock worth $890,000 after purchasing an additional 36,000 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its stake in shares of NOV by 10.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 155,328 shares of the oil and gas exploration company’s stock valued at $2,953,000 after buying an additional 14,550 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 3.7 %

NOV opened at $16.13 on Thursday. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.35 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67. The business’s 50 day moving average is $17.69 and its two-hundred day moving average is $18.36. NOV Inc. has a 52 week low of $15.47 and a 52 week high of $21.71.

NOV (NYSE:NOV) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.22. The business 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 business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. On average, research analysts predict that NOV Inc. will post 1.63 EPS for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.86%. NOV’s payout ratio is currently 12.05%.

Analysts Set New Price Targets

Several analysts recently issued reports on NOV shares. Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $16.00 in a report on Wednesday. Barclays increased their target price on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 30th. Piper Sandler dropped their price objective on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Bank of America lowered their target price on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Finally, Evercore ISI raised NOV to a “strong-buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.00.

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.