NOV Inc. (NYSE:NOV) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 48.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,937 shares of the oil and gas exploration company's stock after selling 142,565 shares during the quarter. Prudential Financial Inc.'s holdings in NOV were worth $2,442,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NOV. Pacer Advisors Inc. lifted its stake in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock worth $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. First Pacific Advisors LP acquired a new position in NOV during the 4th quarter worth approximately $39,495,000. Weiss Asset Management LP purchased a new position in NOV in the 3rd quarter worth approximately $35,709,000. Greenhaven Associates Inc. grew its position in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock valued at $48,049,000 after acquiring an additional 1,255,666 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of NOV by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after purchasing an additional 938,866 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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NOV Stock Performance

NYSE NOV traded down $0.84 on Tuesday, hitting $11.10. The stock had a trading volume of 7,425,953 shares, compared to its average volume of 3,819,266. NOV Inc. has a one year low of $10.84 and a one year high of $21.20. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 6.90, a P/E/G ratio of 1.02 and a beta of 1.35. The company's 50-day moving average is $14.72 and its two-hundred day moving average is $15.22. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.70%. NOV's dividend payout ratio is presently 18.63%.

Wall Street Analysts Forecast Growth

NOV has been the subject of a number of analyst reports. Evercore ISI reissued an "in-line" rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Barclays upped their price target on shares of NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Seaport Res Ptn lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two 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, the company currently has a consensus rating of "Hold" and an average target price of $19.60.

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.