Mather Group LLC. Cuts Stock Holdings in NOV Inc. (NYSE:NOV)

Mather Group LLC. reduced its stake in NOV Inc. (NYSE:NOV) by 12.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,972 shares of the oil and gas exploration company’s stock after selling 734 shares during the quarter. Mather Group LLC.’s holdings in NOV were worth $79,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Boston Partners purchased a new position in shares of NOV in the 1st quarter worth about $119,686,000. Bank of New York Mellon Corp boosted its stake 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 in the last quarter. Pzena Investment Management LLC grew its position in NOV by 12.7% during the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock valued at $684,618,000 after acquiring an additional 3,946,504 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after acquiring an additional 3,470,860 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of NOV by 232.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after acquiring an additional 3,418,885 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the subject of several recent research reports. Evercore ISI raised shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research note on Monday, July 29th. TD Cowen raised their price target on NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Susquehanna lowered their price objective on NOV from $26.00 to $22.00 and set a “positive” rating for the company in a research report on Friday. Finally, Benchmark restated a “hold” rating on shares of NOV in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.93.

NOV Trading Up 1.3 %

Shares of NOV opened at $16.39 on Monday. NOV Inc. has a 1-year low of $15.47 and a 1-year high of $21.53. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $16.93 and its 200-day moving average price is $18.13. The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last posted its quarterly earnings data 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. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm posted $0.39 EPS. The business’s revenue was up 5.9% on a year-over-year basis. Sell-side analysts anticipate that NOV Inc. will post 1.64 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.075 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.83%. NOV’s dividend payout ratio (DPR) is 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.