NOV (NYSE:NOV) Insider Joseph Rovig Sells 151,086 Shares

NOV Inc. (NYSE:NOV) insider Joseph Rovig sold 151,086 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total transaction of $3,047,404.62. Following the sale, the insider directly owned 269,694 shares in the company, valued at $5,439,727.98. The trade was a 35.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

NOV Price Performance

NYSE NOV traded up $0.32 during trading on Tuesday, reaching $20.60. The company’s stock had a trading volume of 1,725,849 shares, compared to its average volume of 4,982,083. The firm has a fifty day moving average of $17.73 and a 200 day moving average of $15.27. NOV Inc. has a one year low of $10.84 and a one year high of $20.86. The stock has a market capitalization of $7.42 billion, a PE ratio of 54.01 and a beta of 0.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.67.

NOV (NYSE:NOV) last posted its quarterly earnings data on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The company had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 1.3% on a year-over-year basis. Analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.7%. This is a boost from NOV’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 13th. NOV’s dividend payout ratio (DPR) is presently 94.74%.

Hedge Funds Weigh In On NOV

Large investors have recently made changes to their positions in the business. Gateway Investment Advisers LLC boosted its holdings in NOV by 1,845.9% in the third quarter. Gateway Investment Advisers LLC now owns 235,081 shares of the oil and gas exploration company’s stock valued at $3,115,000 after purchasing an additional 223,000 shares during the last quarter. Tejara Capital Ltd grew its holdings in shares of NOV by 33.1% in the third quarter. Tejara Capital Ltd now owns 670,199 shares of the oil and gas exploration company’s stock valued at $8,880,000 after purchasing an additional 166,692 shares during the period. Voya Investment Management LLC lifted its holdings in NOV by 239.0% in the third quarter. Voya Investment Management LLC now owns 141,506 shares of the oil and gas exploration company’s stock valued at $1,875,000 after acquiring an additional 99,765 shares during the last quarter. Hsbc Holdings PLC raised its holdings in NOV by 111.3% in the 2nd quarter. Hsbc Holdings PLC now owns 476,044 shares of the oil and gas exploration company’s stock valued at $6,006,000 after buying an additional 250,705 shares during the period. Finally, Keybank National Association OH purchased a new stake in NOV in the third quarter valued at approximately $3,978,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Argus upgraded NOV to a “hold” rating in a report on Tuesday, February 10th. TD Cowen restated a “buy” rating on shares of NOV in a research note on Friday, February 6th. BMO Capital Markets upped their price target on NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Monday, February 9th. Finally, Morgan Stanley set a $16.00 target price on NOV in a research report on Monday, December 15th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $18.36.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.