Corient Private Wealth LLC Acquires 2,198 Shares of NOV Inc. (NYSE:NOV)

Corient Private Wealth LLC increased its holdings in NOV Inc. (NYSE:NOV) by 17.9% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 14,506 shares of the oil and gas exploration company’s stock after buying an additional 2,198 shares during the quarter. Corient Private Wealth LLC’s holdings in NOV were worth $212,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NOV. Verum Partners LLC boosted its holdings in shares of NOV by 9.0% during the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after acquiring an additional 1,248 shares during the last quarter. UMB Bank n.a. lifted its position in NOV by 222.3% during the fourth 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. Wealth Enhancement Advisory Services LLC lifted its position in NOV by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after purchasing an additional 1,656 shares during the period. Canandaigua National Bank & Trust Co. boosted its holdings in NOV by 3.5% in the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after purchasing an additional 2,040 shares during the last quarter. Finally, Quarry LP bought a new stake in NOV in the 3rd quarter worth approximately $36,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the topic of several research analyst reports. Raymond James increased their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Monday, March 24th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Barclays raised their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, NOV currently has an average rating of “Hold” and an average price target of $19.60.

NOV Stock Performance

Shares of NYSE NOV opened at $15.41 on Wednesday. The stock has a market cap of $5.87 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The firm has a fifty day moving average price of $14.99 and a 200-day moving average price of $15.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

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

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.95%. NOV’s payout ratio is 18.63%.

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.