Thrivent Financial for Lutherans Sells 55,045 Shares of NOV Inc. (NYSE:NOV)

Thrivent Financial for Lutherans decreased its position in NOV Inc. (NYSE:NOV) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,827,192 shares of the oil and gas exploration company’s stock after selling 55,045 shares during the quarter. Thrivent Financial for Lutherans owned 1.98% of NOV worth $148,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NOV. Rise Advisors LLC bought a new stake in NOV in the 1st quarter worth approximately $26,000. Rothschild Investment LLC purchased a new position in shares of NOV in the 2nd quarter worth approximately $28,000. Riverview Trust Co purchased a new position in shares of NOV in the 1st quarter worth approximately $39,000. SYSTM Wealth Solutions LLC purchased a new position in shares of NOV in the 1st quarter worth approximately $78,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of NOV in the 2nd quarter worth approximately $78,000. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NOV stock opened at $16.90 on Friday. The stock has a market capitalization of $6.68 billion, a PE ratio of 6.79, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. NOV Inc. has a 12 month low of $15.47 and a 12 month high of $21.71. The business has a 50 day simple moving average of $17.89 and a 200-day simple moving average of $18.37. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.39 earnings per share. On average, analysts anticipate that NOV Inc. will post 1.63 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, September 13th. NOV’s payout ratio is 12.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NOV. TD Cowen lifted their target price on NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Evercore ISI upgraded NOV to a “strong-buy” rating in a report on Friday, July 26th. Piper Sandler dropped their price objective on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Morgan Stanley dropped their price objective on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Bank of America dropped their price objective on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.42.

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.