SIR Capital Management L.P. Trims Holdings in NOV Inc. (NYSE:NOV)

SIR Capital Management L.P. cut its holdings in NOV Inc. (NYSE:NOV) by 88.6% during the fourth quarter, HoldingsChannel reports. The firm owned 165,467 shares of the oil and gas exploration company’s stock after selling 1,280,919 shares during the period. SIR Capital Management L.P.’s holdings in NOV were worth $2,416,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Greenhaven Associates Inc. grew its holdings in shares of NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares during the last quarter. Barclays PLC grew its stake in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 purchasing an additional 1,656 shares during the period. SG Americas Securities LLC raised its stake in shares of NOV by 5.6% during the fourth quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock worth $5,798,000 after purchasing an additional 20,952 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of NOV during the fourth quarter worth $6,330,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 1.8%

Shares of NYSE NOV opened at $12.88 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The stock’s 50-day simple moving average is $13.12 and its 200-day simple moving average is $14.52. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.02 and a beta of 1.27.

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 (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. As a group, equities analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.33%. NOV’s payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOV. Wells Fargo & Company boosted their price target on shares of NOV from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group cut their target price on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research note on Thursday, April 10th. Piper Sandler decreased their price target on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank of Canada cut their price objective on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.00.

NOV 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.