Key Points
- Director Christian Kendall purchased 70,000 NOV shares on Nov 21 at an average price of $14.46 (~$1.01M), increasing his ownership to 85,949 shares — a 438.9% jump.
- NOV missed expectations in its latest quarterly report, posting EPS of $0.11 versus a $0.24 consensus and revenue down 0.7% year-over-year, with a return on equity of 5.89%.
- The company declared a quarterly dividend of $0.075 per share (ex-dividend date Dec 5, payable Dec 19), equal to a $0.30 annualized payout and roughly a 2.0% yield with a 30% payout ratio.
NOV Inc. (NYSE:NOV - Get Free Report) Director Christian Kendall acquired 70,000 shares of the company's stock in a transaction that occurred on Friday, November 21st. The stock was acquired at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the acquisition, the director owned 85,949 shares in the company, valued at $1,242,822.54. The trade was a 438.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
NOV Trading Up 0.0%
Shares of NYSE NOV opened at $15.04 on Wednesday. The stock has a market cap of $5.48 billion, a P/E ratio of 15.04, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. The firm has a 50 day moving average price of $14.01 and a two-hundred day moving average price of $13.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.55. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $16.66.
NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The firm's revenue was down .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 earnings per share. As a group, equities analysts forecast that NOV Inc. will post 1.4 EPS for the current year.
NOV Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, December 19th. Investors of record on Friday, December 5th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, December 5th. This represents a $0.30 annualized dividend and a yield of 2.0%. NOV's dividend payout ratio is 30.00%.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on NOV. Weiss Ratings restated a "hold (c-)" rating on shares of NOV in a research note on Wednesday, October 8th. Barclays lowered their target price on shares of NOV from $14.00 to $13.00 and set an "underweight" rating for the company in a report on Tuesday, November 11th. Raymond James Financial restated an "outperform" rating and set a $17.00 price target on shares of NOV in a report on Tuesday, October 28th. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Finally, The Goldman Sachs Group lifted their target price on shares of NOV from $12.00 to $14.00 and gave the stock a "sell" rating in a research report on Wednesday, November 5th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, NOV has an average rating of "Hold" and a consensus target price of $15.54.
View Our Latest Stock Report on NOV
Institutional Investors Weigh In On NOV
Several institutional investors have recently added to or reduced their stakes in the business. Canandaigua National Trust Co of Florida raised its holdings in NOV by 114.0% during the 2nd quarter. Canandaigua National Trust Co of Florida now owns 77,394 shares of the oil and gas exploration company's stock valued at $962,000 after acquiring an additional 41,235 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in NOV by 64.9% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 101,211 shares of the oil and gas exploration company's stock worth $1,258,000 after purchasing an additional 39,848 shares during the period. Empowered Funds LLC grew its holdings in NOV by 2,266.9% during the 1st quarter. Empowered Funds LLC now owns 509,555 shares of the oil and gas exploration company's stock valued at $7,755,000 after buying an additional 488,027 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of NOV by 18.8% during the second quarter. Harbor Capital Advisors Inc. now owns 804,961 shares of the oil and gas exploration company's stock valued at $10,006,000 after buying an additional 127,433 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of NOV by 1.5% in the first quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after acquiring an additional 566,160 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.
NOV Company Profile
(
Get Free Report)
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.
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