CoreCommodity Management LLC Has $629,000 Position in NOV Inc. (NYSE:NOV)

CoreCommodity Management LLC decreased its holdings in NOV Inc. (NYSE:NOV) by 47.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 43,063 shares of the oil and gas exploration company’s stock after selling 38,402 shares during the quarter. CoreCommodity Management LLC’s holdings in NOV were worth $629,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its stake in NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the period. Tidal Investments LLC raised its holdings in shares of NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after buying an additional 3,645 shares in the last quarter. Nordea Investment Management AB bought a new position in shares of NOV during the 4th quarter worth approximately $2,514,000. Canandaigua National Bank & Trust Co. boosted its stake in NOV by 3.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after buying an additional 2,040 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in NOV by 10.8% in 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 acquiring an additional 1,656 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on NOV shares. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Raymond James boosted their price target on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. dropped their price objective on shares of NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Evercore ISI reissued an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group dropped their price target on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $18.00.

NOV Price Performance

Shares of NOV stock opened at $11.90 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 1.02 and a beta of 1.27. The stock has a 50-day moving average price of $13.38 and a 200 day moving average price of $14.64.

NOV (NYSE:NOV) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.52%. NOV’s dividend payout ratio is currently 20.00%.

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.