KLP Kapitalforvaltning AS Sells 4,000 Shares of NOV Inc. (NYSE:NOV)

KLP Kapitalforvaltning AS lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 4.9% during the 1st quarter, HoldingsChannel reports. The firm owned 77,500 shares of the oil and gas exploration company’s stock after selling 4,000 shares during the period. KLP Kapitalforvaltning AS’s holdings in NOV were worth $1,180,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of NOV. Pzena Investment Management LLC raised its holdings in NOV by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company’s stock worth $632,610,000 after buying an additional 106,011 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after acquiring an additional 1,934,243 shares during the period. Geode Capital Management LLC lifted its position in NOV by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company’s stock valued at $97,815,000 after acquiring an additional 302,009 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in NOV by 40.7% in the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock worth $83,489,000 after purchasing an additional 1,652,917 shares during the period. Finally, Greenhaven Associates Inc. increased its holdings in NOV by 25.0% during the 1st quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company’s stock worth $62,617,000 after purchasing an additional 823,115 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOV has been the subject of several recent research reports. Piper Sandler reduced their price objective on NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Susquehanna reduced their price target on NOV from $19.00 to $18.00 and set a “positive” rating for the company in a research report on Tuesday, July 1st. JPMorgan Chase & Co. lowered 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. Morgan Stanley reduced their target price on shares of NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Finally, The Goldman Sachs Group lowered their price target 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of “Hold” and a consensus target price of $17.31.

NOV Price Performance

Shares of NYSE NOV opened at $13.97 on Monday. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $13.64. The company has a market cap of $5.25 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 3.56 and a beta of 1.28. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20.

NOV (NYSE:NOV) last posted its 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 9.11% and a net margin of 6.68%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the firm posted $0.30 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date was Monday, June 2nd. This represents a yield of 3.63%. NOV’s dividend payout ratio (DPR) is 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.