Mutual of America Capital Management LLC Cuts Stake in NOV Inc. (NYSE:NOV)

Mutual of America Capital Management LLC reduced its stake in shares of NOV Inc. (NYSE:NOV) by 4.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,003 shares of the oil and gas exploration company’s stock after selling 9,529 shares during the quarter. Mutual of America Capital Management LLC owned about 0.05% of NOV worth $2,983,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in NOV. Huntington National Bank grew its holdings in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after buying an additional 1,034 shares in the last quarter. Covestor Ltd grew its holdings in NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after buying an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in NOV during the 1st quarter valued at approximately $36,000. Signaturefd LLC grew its holdings in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. Finally, CoreFirst Bank & Trust purchased a new stake in NOV during the 4th quarter valued at approximately $41,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Stifel Nicolaus lowered their target price on NOV from $23.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday. Morgan Stanley lowered their target price on NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. lowered their target price on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company lowered their target price on NOV from $11.00 to $10.00 and set an “underweight” rating for the company in a research report on Thursday, June 5th. Finally, Piper Sandler lowered their target price on NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Three investment 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.com, the stock currently has a consensus rating of “Hold” and an average target price of $17.31.

NOV Stock Down 0.4%

Shares of NOV opened at $12.90 on Friday. The company has a market cap of $4.85 billion, a PE ratio of 8.60, a P/E/G ratio of 3.29 and a beta of 1.28. The business has a fifty day moving average of $12.93 and a 200 day moving average of $13.70. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.30 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a dividend 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.