Corebridge Financial Inc. Sells 25,328 Shares of NOV Inc. (NYSE:NOV)

Corebridge Financial Inc. lessened its position in NOV Inc. (NYSE:NOV) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 440,247 shares of the oil and gas exploration company’s stock after selling 25,328 shares during the quarter. Corebridge Financial Inc.’s holdings in NOV were worth $6,428,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Quest Partners LLC bought a new position in shares of NOV during the 3rd quarter valued at about $96,000. Charles Schwab Investment Management Inc. boosted its stake in NOV by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock worth $46,760,000 after buying an additional 55,056 shares in the last quarter. Cerity Partners LLC grew its position in NOV by 5.4% during the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock valued at $1,026,000 after acquiring an additional 3,274 shares during the last quarter. Bank of Montreal Can raised its stake in shares of NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after acquiring an additional 367,308 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of NOV during the third quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV opened at $14.96 on Friday. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The business’s fifty day simple moving average is $15.00 and its two-hundred day simple moving average is $15.40. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 1.02 and a beta of 1.66.

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

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.01%. NOV’s dividend payout ratio (DPR) is 18.63%.

Analyst Ratings Changes

Several equities analysts recently commented on NOV shares. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays boosted their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Finally, ATB Capital restated a “sector perform” rating and set a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.60.

About NOV

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.