NOV Inc. $NOV Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its stake in shares of NOV Inc. (NYSE:NOV) by 17.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,267,354 shares of the oil and gas exploration company’s stock after selling 682,446 shares during the quarter. Pacer Advisors Inc.’s holdings in NOV were worth $43,292,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. CoreFirst Bank & Trust acquired a new position in shares of NOV during the second quarter valued at $35,000. Hantz Financial Services Inc. boosted its stake in NOV by 395.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 2,921 shares during the period. Signaturefd LLC grew its position in NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 931 shares during the last quarter. Quarry LP increased its stake in shares of NOV by 119.7% in the first quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock valued at $52,000 after purchasing an additional 1,856 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NOV by 123.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock valued at $67,000 after buying an additional 2,975 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christian S. Kendall bought 70,000 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were bought at an average cost of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the transaction, the director directly owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This trade represents a 438.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 2.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Piper Sandler increased their price objective on NOV from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, December 18th. Raymond James Financial reissued an “outperform” rating and issued a $17.00 price target on shares of NOV in a research note on Tuesday, October 28th. Barclays lifted their price objective on shares of NOV from $13.00 to $15.00 and gave the company an “underweight” rating in a research note on Wednesday, December 17th. The Goldman Sachs Group raised their target price on shares of NOV from $12.00 to $14.00 and gave the company a “sell” rating in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Monday. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.83.

NOV Price Performance

Shares of NYSE NOV opened at $15.63 on Friday. The firm has a 50-day moving average of $15.26 and a two-hundred day moving average of $13.80. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 5.18 and a beta of 0.97. The company has a current ratio of 2.55, a quick ratio of 1.71 and a debt-to-equity ratio of 0.26. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $16.96.

NOV (NYSE:NOV) last released its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s quarterly revenue was down .7% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. As a group, analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Friday, December 5th. NOV’s payout ratio is presently 30.00%.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.