Loomis Sayles & Co. L P Sells 40,175 Shares of NOV Inc. (NYSE:NOV)

Loomis Sayles & Co. L P trimmed its stake in NOV Inc. (NYSE:NOV) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,286,709 shares of the oil and gas exploration company’s stock after selling 40,175 shares during the quarter. Loomis Sayles & Co. L P’s holdings in NOV were worth $18,786,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. grew its holdings in shares of NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after purchasing an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. Barclays PLC grew 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 buying an additional 258,392 shares during the last quarter. Bank of Montreal Can increased its holdings in shares of NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after buying an additional 367,308 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of NOV in the third quarter valued at approximately $35,709,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

NOV opened at $14.96 on Friday. The company has a fifty day moving average price of $15.00 and a two-hundred day moving average price of $15.40. The firm has a market capitalization of $5.70 billion, a PE ratio of 9.29, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a 52 week low of $13.78 and a 52 week high of $21.20. 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 (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.01%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NOV shares. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler increased their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. ATB Capital reissued a “sector perform” rating and set a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Finally, Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two equities 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

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.