SG Americas Securities LLC Purchases 31,285 Shares of NOV Inc. (NYSE:NOV)

SG Americas Securities LLC boosted its holdings in NOV Inc. (NYSE:NOV) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 428,434 shares of the oil and gas exploration company’s stock after buying an additional 31,285 shares during the quarter. SG Americas Securities LLC’s holdings in NOV were worth $6,521,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NOV. Empowered Funds LLC acquired a new position in shares of NOV during the fourth quarter worth $314,000. Savant Capital LLC purchased a new stake in shares of NOV in the fourth quarter worth approximately $234,000. Van ECK Associates Corp lifted its stake in NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after acquiring an additional 938,866 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in NOV by 11.9% during the fourth quarter. New York State Teachers Retirement System now owns 590,771 shares of the oil and gas exploration company’s stock worth $8,625,000 after purchasing an additional 62,733 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in shares of NOV by 2.7% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 131,280 shares of the oil and gas exploration company’s stock valued at $1,917,000 after acquiring an additional 3,421 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

NOV stock opened at $13.39 on Friday. The business has a 50-day simple moving average of $12.32 and a 200 day simple moving average of $14.03. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 8.32, a PEG ratio of 1.02 and a beta of 1.28. 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 (NYSE:NOV) last posted its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The company had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business posted $0.30 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a dividend yield of 3.63%. NOV’s payout ratio is 20.00%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. The Goldman Sachs Group dropped their target price on shares of NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a research note on Thursday, April 10th. Piper Sandler lowered their price objective on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of NOV from $20.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Susquehanna reduced their target price on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Finally, Barclays dropped their target price on NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, NOV currently has an average rating of “Hold” and an average target price of $17.44.

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.