CoreFirst Bank & Trust Cuts Stock Holdings in NOV Inc. (NYSE:NOV)

CoreFirst Bank & Trust lowered its position in NOV Inc. (NYSE:NOV) by 67.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,830 shares of the oil and gas exploration company’s stock after selling 5,790 shares during the period. CoreFirst Bank & Trust’s holdings in NOV were worth $57,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in NOV. Bruce G. Allen Investments LLC purchased a new stake in NOV in the 4th quarter valued at about $49,000. GAMMA Investing LLC purchased a new stake in shares of NOV during the 4th quarter valued at $61,000. International Assets Investment Management LLC increased its position in shares of NOV by 1,306.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 3,240 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of NOV during the 4th quarter worth $97,000. Finally, Headinvest LLC purchased a new position in shares of NOV in the 3rd quarter worth about $108,000. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen lowered their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Susquehanna reiterated a “positive” rating and issued a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Finally, Piper Sandler reduced their price objective on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, February 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.07.

NOV Stock Up 3.5 %

Shares of NYSE:NOV opened at $18.11 on Tuesday. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 7.27, a PEG ratio of 0.55 and a beta of 1.70. NOV Inc. has a one year low of $14.85 and a one year high of $21.91. The firm has a fifty day moving average price of $18.64 and a two-hundred day moving average price of $18.85. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50.

NOV (NYSE:NOV) last posted its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Analysts anticipate that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.075 per share. The ex-dividend date is Friday, June 14th. This is a positive change from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a yield of 1.66%. NOV’s payout ratio is presently 12.05%.

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.