NOV Inc. (NYSE:NOV) Holdings Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in NOV Inc. (NYSE:NOV) by 95.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,628 shares of the oil and gas exploration company’s stock after selling 7,103,297 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of NOV worth $4,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. UMB Bank n.a. increased its position in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the period. Quarry LP acquired a new position in NOV during the third quarter worth about $36,000. Signaturefd LLC raised its position in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NOV in the 4th quarter valued at about $42,000. Finally, R Squared Ltd bought a new position in shares of NOV during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.13 on Tuesday. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The stock’s 50-day moving average is $14.99 and its two-hundred day moving average is $15.41. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm has a market cap of $5.76 billion, a P/E ratio of 9.40, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio is 18.63%.

Wall Street Analysts Forecast Growth

NOV has been the subject of several recent research reports. Raymond James increased their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $19.60.

NOV Company 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.