Xponance Inc. Sells 4,353 Shares of NOV Inc. (NYSE:NOV)

Xponance Inc. trimmed its holdings in shares of NOV Inc. (NYSE:NOV) by 9.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,548 shares of the oil and gas exploration company’s stock after selling 4,353 shares during the quarter. Xponance Inc.’s holdings in NOV were worth $809,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Gabelli Funds LLC increased its position in shares of NOV by 333.1% in the second quarter. Gabelli Funds LLC now owns 46,807 shares of the oil and gas exploration company’s stock worth $890,000 after purchasing an additional 36,000 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of NOV by 10.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 155,328 shares of the oil and gas exploration company’s stock worth $2,953,000 after buying an additional 14,550 shares during the last quarter. Lodge Hill Capital LLC raised its position in shares of NOV by 2.7% during the 2nd quarter. Lodge Hill Capital LLC now owns 941,400 shares of the oil and gas exploration company’s stock valued at $17,896,000 after buying an additional 25,000 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of NOV during the 2nd quarter valued at $1,245,000. Finally, Goehring & Rozencwajg Associates LLC lifted its holdings in shares of NOV by 10.5% during the 2nd quarter. Goehring & Rozencwajg Associates LLC now owns 182,185 shares of the oil and gas exploration company’s stock worth $3,463,000 after acquiring an additional 17,300 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Up 0.8 %

NYSE NOV opened at $15.98 on Friday. NOV Inc. has a 1 year low of $15.47 and a 1 year high of $21.68. The stock has a market capitalization of $6.32 billion, a PE ratio of 6.42, a PEG ratio of 0.50 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. The business’s 50-day moving average is $17.56 and its 200 day moving average is $18.33.

NOV (NYSE:NOV) last posted its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.22. The firm had revenue of $2.22 billion for 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 firm earned $0.39 earnings per share. Sell-side analysts forecast that NOV Inc. will post 1.63 earnings per share for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

A number of research firms recently commented on NOV. Wells Fargo & Company cut NOV from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $20.00 to $16.00 in a research note on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price objective on shares of NOV in a report on Monday, July 29th. Piper Sandler cut their target price on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Barclays increased their price target on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, NOV has a consensus rating of “Moderate Buy” and a consensus price target of $24.00.

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.