Rhumbline Advisers Sells 149,773 Shares of NOV Inc. $NOV

Rhumbline Advisers lowered its position in shares of NOV Inc. (NYSE:NOV) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,031,398 shares of the oil and gas exploration company’s stock after selling 149,773 shares during the quarter. Rhumbline Advisers owned 0.28% of NOV worth $13,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOV. CoreFirst Bank & Trust purchased a new position in shares of NOV during the 2nd quarter valued at $35,000. UMB Bank n.a. raised its holdings in NOV by 114.1% during the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after acquiring an additional 1,657 shares during the period. Hantz Financial Services Inc. lifted its position in shares of NOV by 395.3% in the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 2,921 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of NOV in the second quarter worth about $80,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of NOV by 33.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock worth $82,000 after purchasing an additional 1,658 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NOV shares. Evercore set a $19.00 price target on NOV in a research note on Friday, February 6th. Barclays raised shares of NOV from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $15.00 to $20.00 in a report on Wednesday, February 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 target price on shares of NOV in a research note on Thursday, January 15th. The Goldman Sachs Group reiterated a “sell” rating and issued a $17.00 price target on shares of NOV in a research note on Wednesday, January 14th. Finally, Citigroup increased their price objective on shares of NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 11th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.36.

NOV Price Performance

NOV stock opened at $20.23 on Friday. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $20.35. The firm has a market capitalization of $7.29 billion, a P/E ratio of 53.25 and a beta of 0.93. The company has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $15.11. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last announced its earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a net margin of 1.66% and a return on equity of 3.57%. The business had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV 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.