Neo Ivy Capital Management Has $842,000 Stock Position in NOV Inc. $NOV

Neo Ivy Capital Management lessened its holdings in NOV Inc. (NYSE:NOV) by 52.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,544 shares of the oil and gas exploration company’s stock after selling 70,072 shares during the period. Neo Ivy Capital Management’s holdings in NOV were worth $842,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust acquired a new position in NOV during the second quarter worth $35,000. UMB Bank n.a. lifted its position in shares of NOV by 114.1% in the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 1,657 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of NOV by 88.4% during the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock worth $67,000 after acquiring an additional 2,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of NOV by 33.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock worth $82,000 after acquiring an additional 1,658 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NOV by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,738 shares of the oil and gas exploration company’s stock valued at $89,000 after acquiring an additional 1,359 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling at NOV

In other NOV news, insider Joseph W. Rovig sold 151,086 shares of the firm’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total value of $3,047,404.62. Following the sale, the insider directly owned 269,694 shares in the company, valued at $5,439,727.98. This trade represents a 35.91% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Craig L. Weinstock sold 70,000 shares of the business’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the transaction, the vice president owned 256,319 shares in the company, valued at approximately $5,146,885.52. The trade was a 21.45% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.08% of the company’s stock.

NOV Price Performance

NYSE NOV opened at $18.58 on Friday. The stock has a 50-day simple moving average of $18.48 and a 200 day simple moving average of $15.73. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $20.85. The stock has a market capitalization of $6.70 billion, a PE ratio of 48.90 and a beta of 0.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.42.

NOV (NYSE:NOV) last released its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The business had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. Research analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.09 dividend. The ex-dividend date is Friday, March 13th. This is a positive change from NOV’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.9%. NOV’s dividend payout ratio is 78.95%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, February 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Evercore set a $19.00 price target on shares of NOV in a research report on Friday, February 6th. Argus upgraded shares of NOV to a “hold” rating in a research note on Tuesday, February 10th. Finally, Susquehanna reaffirmed a “positive” rating and set a $21.00 price objective on shares of NOV in a report on Friday, February 6th. Six research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.57.

NOV Company Profile

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.