Narwhal Capital Management Boosts Position in NOV Inc. (NYSE:NOV)

Narwhal Capital Management increased its stake in NOV Inc. (NYSE:NOV - Free Report) by 23.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 281,449 shares of the oil and gas exploration company's stock after purchasing an additional 53,691 shares during the quarter. Narwhal Capital Management owned approximately 0.07% of NOV worth $4,495,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Goldman Sachs Group Inc. lifted its position in shares of NOV by 95.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company's stock valued at $17,846,000 after buying an additional 429,104 shares in the last quarter. Wintrust Investments LLC lifted its holdings in NOV by 631.6% during the first quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company's stock valued at $1,600,000 after purchasing an additional 70,743 shares in the last quarter. Stanley Laman Group Ltd. bought a new position in shares of NOV in the second quarter worth approximately $4,031,000. Allspring Global Investments Holdings LLC increased its stake in shares of NOV by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,883,885 shares of the oil and gas exploration company's stock worth $75,813,000 after purchasing an additional 42,717 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its position in shares of NOV by 1,194.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock valued at $32,431,000 after purchasing an additional 1,574,188 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Trading Down 0.5 %

Shares of NOV stock opened at $15.41 on Wednesday. The company has a market cap of $6.10 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. The stock's 50 day simple moving average is $16.64 and its two-hundred day simple moving average is $17.92. NOV Inc. has a 1 year low of $15.27 and a 1 year high of $21.23.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping the consensus estimate of $0.35 by $0.22. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. NOV's quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.39 earnings per share. Research analysts predict that NOV Inc. will post 1.64 earnings per share for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.95%. NOV's dividend payout ratio (DPR) is presently 12.05%.

Analysts Set New Price Targets

A number of equities research analysts have commented on NOV shares. Stifel Nicolaus decreased their price target on NOV from $26.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, October 11th. BMO Capital Markets reduced their price objective on shares of NOV from $22.00 to $20.00 and set a "market perform" rating on the stock in a research report on Thursday, October 10th. Piper Sandler dropped their target price on shares of NOV from $22.00 to $20.00 and set a "neutral" rating for the company in a research report on Monday, July 15th. Citigroup cut their target price on shares of NOV from $24.00 to $21.00 and set a "buy" rating for the company in a research note on Thursday, October 3rd. Finally, TD Cowen increased their price objective on shares of NOV from $27.00 to $28.00 and gave the company a "buy" rating in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.57.

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.