Moran Wealth Management LLC Takes $719,000 Position in NOV Inc. (NYSE:NOV)

Moran Wealth Management LLC bought a new stake in NOV Inc. (NYSE:NOV) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 47,256 shares of the oil and gas exploration company’s stock, valued at approximately $719,000.

A number of other large investors have also modified their holdings of the stock. Huntington National Bank boosted its holdings in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 1,034 shares during the last quarter. Covestor Ltd boosted its holdings in NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 1,655 shares during the last quarter. Signaturefd LLC boosted its holdings in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in NOV in the fourth quarter valued at about $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in NOV in the fourth quarter valued at about $42,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOV shares. Royal Bank Of Canada reduced their price target on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Susquehanna reduced their price target on NOV from $21.00 to $19.00 and set a “positive” rating for the company in a report on Monday, April 14th. The Goldman Sachs Group reduced their target price on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Morgan Stanley reduced their target price on NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Finally, Piper Sandler reduced their target price on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and a consensus price target of $17.44.

NOV Stock Up 1.3%

Shares of NOV stock opened at $13.00 on Friday. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The stock has a market cap of $4.88 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 3.18 and a beta of 1.28. The business’s fifty day moving average is $12.61 and its 200-day moving average is $13.86. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.65.

NOV (NYSE:NOV) last issued 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). NOV had a net margin of 6.68% and a return on equity of 9.11%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates 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. Equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared 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. This represents a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV’s dividend payout ratio (DPR) is presently 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.