NOV Inc. (NYSE:NOV) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 40.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 45,894 shares of the oil and gas exploration company's stock after selling 31,623 shares during the period. Avantax Advisory Services Inc.'s holdings in NOV were worth $670,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of NOV by 32.2% during the third quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company's stock worth $1,756,000 after acquiring an additional 26,792 shares during the period. Quest Partners LLC acquired a new position in NOV during the 3rd quarter worth approximately $96,000. Landscape Capital Management L.L.C. purchased a new position in shares of NOV during the 3rd quarter worth approximately $479,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of NOV by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company's stock valued at $46,760,000 after buying an additional 55,056 shares during the period. Finally, Cerity Partners LLC boosted its stake in shares of NOV by 5.4% in the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company's stock valued at $1,026,000 after buying an additional 3,274 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

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NOV Stock Up 2.3 %

NOV traded up $0.35 on Tuesday, reaching $15.47. The company's stock had a trading volume of 3,495,530 shares, compared to its average volume of 3,668,206. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 9.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business's 50 day moving average is $14.99 and its 200 day moving average is $15.41. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, research analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.94%. NOV's dividend payout ratio (DPR) is 18.63%.

Analysts Set New Price Targets

NOV has been the subject of several research analyst reports. Raymond James increased their price objective on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Seaport Res Ptn cut shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Piper Sandler boosted their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Barclays increased their target price on shares of NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Finally, Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $19.60.

About NOV

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.