NOV Inc. $NOV Shares Sold by Hsbc Holdings PLC

by · The Markets Daily

Hsbc Holdings PLC trimmed its holdings in shares of NOV Inc. (NYSE:NOV – Free Report) by 69.5% in the fourth quarter, HoldingsChannel reports. The firm owned 161,040 shares of the oil and gas exploration company’s stock after selling 367,225 shares during the period. Hsbc Holdings PLC’s holdings in NOV were worth $2,520,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of NOV. Price T Rowe Associates Inc. MD lifted its stake in NOV by 1,743.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock valued at $79,080,000 after buying an additional 4,785,015 shares in the last quarter. Ameriprise Financial Inc. increased its position in NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock worth $39,347,000 after buying an additional 2,534,815 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of NOV by 43.6% in the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock worth $100,654,000 after acquiring an additional 2,304,975 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of NOV by 76.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company’s stock worth $42,545,000 after acquiring an additional 1,178,838 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of NOV in the third quarter valued at $14,114,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 1.1%

NOV opened at $18.45 on Tuesday. NOV Inc. has a 12 month low of $11.77 and a 12 month high of $21.55. The business has a 50-day moving average of $20.12 and a two-hundred day moving average of $18.93. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The stock has a market capitalization of $6.62 billion, a price-to-earnings ratio of 76.89 and a beta of 0.89.

NOV (NYSE:NOV – Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The company had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the company earned $0.19 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.09 dividend. This represents a dividend yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio (DPR) is 150.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NOV shares. Citigroup increased their price objective on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Morgan Stanley upped their target price on shares of NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. Finally, Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $20.57.

Read Our Latest Research Report on NOV

NOV Company Profile

(Free Report)

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.

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