CoreFirst Bank & Trust Makes New $41,000 Investment in NOV Inc. (NYSE:NOV)

CoreFirst Bank & Trust bought a new stake in NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,830 shares of the oil and gas exploration company’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also made changes to their positions in NOV. Signaturefd LLC boosted its holdings in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. Verum Partners LLC grew its holdings in NOV by 9.0% during the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after acquiring an additional 1,248 shares during the period. UMB Bank n.a. raised its position in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after acquiring an additional 1,656 shares during the period. Finally, Canandaigua National Bank & Trust Co. boosted its position in shares of NOV by 3.5% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after purchasing an additional 2,040 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Monday. Finally, Evercore ISI restated an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, NOV currently has an average rating of “Hold” and an average price target of $19.60.

NOV Price Performance

NOV stock opened at $15.47 on Wednesday. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The firm has a 50 day moving average price of $15.00 and a 200 day moving average price of $15.40. The company has a market cap of $5.89 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last issued its earnings results 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

NOV 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.