Venturi Wealth Management LLC Purchases New Shares in NOV Inc. (NYSE:NOV)

Venturi Wealth Management LLC purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, Holdings Channel.com reports. The fund purchased 9,659 shares of the oil and gas exploration company’s stock, valued at approximately $141,000.

A number of other large investors also recently made changes to their positions in the company. Sanctuary Advisors LLC lifted its position in shares of NOV by 51.9% during the fourth quarter. Sanctuary Advisors LLC now owns 22,959 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 7,840 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of NOV by 2.7% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 131,280 shares of the oil and gas exploration company’s stock valued at $1,917,000 after purchasing an additional 3,421 shares in the last quarter. New York State Teachers Retirement System lifted its position in shares of NOV by 11.9% during the fourth quarter. New York State Teachers Retirement System now owns 590,771 shares of the oil and gas exploration company’s stock valued at $8,625,000 after purchasing an additional 62,733 shares in the last quarter. Van ECK Associates Corp lifted 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 purchasing an additional 938,866 shares in the last quarter. Finally, Savant Capital LLC bought a new position in shares of NOV during the fourth quarter valued at about $234,000. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Piper Sandler lifted their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and dropped their target price for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Raymond James boosted their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

NOV stock opened at $15.10 on Friday. The firm’s 50 day simple moving average is $14.95 and its 200 day simple moving average is $15.87. The firm has a market capitalization of $5.75 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is 18.63%.

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.