American Century Companies Inc. Sells 776 Shares of NOV Inc. (NYSE:NOV)

American Century Companies Inc. trimmed its position in shares of NOV Inc. (NYSE:NOV) by 0.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 115,063 shares of the oil and gas exploration company’s stock after selling 776 shares during the quarter. American Century Companies Inc.’s holdings in NOV were worth $2,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. US Bancorp DE lifted its position in NOV by 5.1% in the 4th quarter. US Bancorp DE now owns 32,786 shares of the oil and gas exploration company’s stock valued at $665,000 after acquiring an additional 1,584 shares in the last quarter. Hsbc Holdings PLC increased its stake in NOV by 8.7% in the 4th quarter. Hsbc Holdings PLC now owns 72,397 shares of the oil and gas exploration company’s stock valued at $1,475,000 after buying an additional 5,801 shares during the last quarter. TD Asset Management Inc increased its stake in NOV by 79.7% in the 4th quarter. TD Asset Management Inc now owns 86,278 shares of the oil and gas exploration company’s stock valued at $1,750,000 after buying an additional 38,278 shares during the last quarter. Treasurer of the State of North Carolina increased its stake in NOV by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 173,988 shares of the oil and gas exploration company’s stock valued at $3,528,000 after buying an additional 1,700 shares during the last quarter. Finally, TFO Wealth Partners LLC increased its stake in NOV by 47,585.7% in the 4th quarter. TFO Wealth Partners LLC now owns 10,014 shares of the oil and gas exploration company’s stock valued at $203,000 after buying an additional 9,993 shares during the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Stock Up 0.8 %

Shares of NYSE NOV opened at $15.98 on Friday. The firm has a market cap of $6.32 billion, a PE ratio of 6.42, a P/E/G ratio of 0.50 and a beta of 1.67. NOV Inc. has a 12-month low of $15.47 and a 12-month high of $21.68. The company’s fifty day simple moving average is $17.56 and its 200 day simple moving average is $18.33. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same period last year, the firm earned $0.39 earnings per share. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s payout ratio is currently 12.05%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on NOV shares. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Bank of America decreased their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Morgan Stanley decreased their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Benchmark reiterated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.00 in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NOV has an average rating of “Moderate Buy” and an average target price of $24.00.

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.