NOV Inc. (NYSE:NOV) Shares Sold by Narwhal Capital Management

Narwhal Capital Management reduced its position in shares of NOV Inc. (NYSE:NOV) by 33.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 186,767 shares of the oil and gas exploration company’s stock after selling 94,682 shares during the period. Narwhal Capital Management’s holdings in NOV were worth $2,727,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mercer Global Advisors Inc. ADV acquired a new position in NOV in the 2nd quarter worth $78,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of NOV in the second quarter worth about $125,000. Algert Global LLC boosted its holdings in NOV by 9.1% in the second quarter. Algert Global LLC now owns 226,234 shares of the oil and gas exploration company’s stock valued at $4,301,000 after purchasing an additional 18,777 shares during the last quarter. Creative Planning boosted its holdings in NOV by 29.8% in the second quarter. Creative Planning now owns 33,815 shares of the oil and gas exploration company’s stock valued at $643,000 after purchasing an additional 7,757 shares during the last quarter. Finally, Truist Financial Corp grew its stake in NOV by 3.4% during the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock valued at $565,000 after purchasing an additional 991 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler started coverage on shares of NOV in a report on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price target on the stock. BMO Capital Markets decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Susquehanna decreased their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, NOV has an average rating of “Hold” and an average price target of $20.00.

NOV Trading Down 0.2 %

Shares of NYSE NOV opened at $14.87 on Monday. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 5.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.66. The stock’s 50 day simple moving average is $15.16 and its 200 day simple moving average is $16.38. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $13.94 and a 12-month high of $21.23.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.02%. NOV’s dividend payout ratio is currently 11.07%.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

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.