NOV Inc. (NYSE:NOV) Shares Sold by American International Group Inc.

American International Group Inc. decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 532,091 shares of the oil and gas exploration company’s stock after selling 22,687 shares during the quarter. American International Group Inc.’s holdings in NOV were worth $10,791,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Goehring & Rozencwajg Associates LLC grew its position in NOV by 3.4% in the 4th quarter. Goehring & Rozencwajg Associates LLC now owns 153,485 shares of the oil and gas exploration company’s stock worth $3,113,000 after purchasing an additional 5,005 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in NOV by 769.1% in the 4th 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. CoreCommodity Management LLC grew its stake in shares of NOV by 111.7% in the fourth quarter. CoreCommodity Management LLC now owns 47,675 shares of the oil and gas exploration company’s stock worth $967,000 after purchasing an additional 25,157 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of NOV by 71.3% during the fourth quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock valued at $22,154,000 after purchasing an additional 454,665 shares during the period. Finally, KBC Group NV raised its stake in shares of NOV by 357.8% during the fourth quarter. KBC Group NV now owns 6,990 shares of the oil and gas exploration company’s stock valued at $142,000 after purchasing an additional 5,463 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Trading Up 3.5 %

NYSE:NOV opened at $18.11 on Tuesday. The stock has a fifty day simple moving average of $18.64 and a 200 day simple moving average of $18.85. The firm has a market capitalization of $7.16 billion, a price-to-earnings ratio of 7.27, a price-to-earnings-growth ratio of 0.55 and a beta of 1.70. NOV Inc. has a 1-year low of $14.85 and a 1-year high of $21.91. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28.

NOV (NYSE:NOV) last announced 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 net margin of 11.23% and a return on equity of 10.21%. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the company posted $0.32 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. Sell-side analysts forecast that NOV Inc. will post 1.56 earnings per share for the current year.

NOV Increases Dividend

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

Analyst Ratings Changes

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

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.