NOV Inc. $NOV Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC cut its position in NOV Inc. (NYSE:NOV) by 69.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 161,040 shares of the oil and gas exploration company’s stock after selling 367,225 shares during the quarter. Hsbc Holdings PLC’s holdings in NOV were worth $2,520,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in shares of NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock worth $100,654,000 after purchasing an additional 2,304,975 shares during the period. Citigroup Inc. grew its position in NOV by 32.1% in the 3rd quarter. Citigroup Inc. now owns 357,529 shares of the oil and gas exploration company’s stock valued at $4,737,000 after buying an additional 86,854 shares during the last quarter. Oldfield Partners LLP increased its stake in NOV by 5.8% in the 4th quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock valued at $78,859,000 after buying an additional 276,961 shares during the period. Crossmark Global Holdings Inc. raised its position in NOV by 203.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock worth $1,343,000 after buying an additional 57,634 shares during the last quarter. Finally, Earnest Partners LLC lifted its stake in shares of NOV by 1.9% in the 3rd quarter. Earnest Partners LLC now owns 4,106,951 shares of the oil and gas exploration company’s stock worth $54,417,000 after acquiring an additional 77,429 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Down 1.1%

NOV stock opened at $18.45 on Tuesday. The company has a market cap of $6.62 billion, a P/E ratio of 76.89 and a beta of 0.89. NOV Inc. has a 52 week low of $11.77 and a 52 week high of $21.55. The company’s 50-day moving average price is $20.12 and its 200 day moving average price is $18.93. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $0.19 earnings per share. On average, research analysts expect that NOV Inc. will post 0.9 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.09 per share. This represents a dividend yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s payout ratio is 150.00%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Evercore upgraded shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. Morgan Stanley raised their price objective on shares of NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. The Goldman Sachs Group set a $19.00 price objective on NOV in a report on Wednesday, June 3rd. Susquehanna boosted their target price on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.57.

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.