Securian Asset Management Inc. Lowers Holdings in NOV Inc. (NYSE:NOV)

Securian Asset Management Inc. reduced its stake in NOV Inc. (NYSE:NOV) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,414 shares of the oil and gas exploration company’s stock after selling 1,201 shares during the period. Securian Asset Management Inc.’s holdings in NOV were worth $429,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Pzena Investment Management LLC boosted its stake in NOV by 22.3% in the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after buying an additional 6,963,660 shares in the last quarter. Pacer Advisors Inc. grew its holdings 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 valued at $179,718,000 after buying an additional 12,210,514 shares during the last quarter. Van ECK Associates Corp increased 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 valued at $75,658,000 after acquiring an additional 938,866 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its holdings in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after acquiring an additional 1,255,666 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Price Performance

NYSE NOV opened at $14.61 on Tuesday. The business’s fifty day moving average is $14.97 and its 200 day moving average is $15.49. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The company has a market capitalization of $5.56 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Sell-side analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.05%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analyst Ratings Changes

Several analysts have commented on the company. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays boosted their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, ATB Capital reissued a “sector perform” rating and set a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target 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.