Vestcor Inc Invests $425,000 in NOV Inc. (NYSE:NOV)

Vestcor Inc purchased a new position in NOV Inc. (NYSE:NOV - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 29,084 shares of the oil and gas exploration company's stock, valued at approximately $425,000.

Other institutional investors have also modified their holdings of the company. Quarry LP purchased a new position in NOV in the third quarter worth approximately $36,000. UMB Bank n.a. increased its holdings in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 1,612 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NOV in the fourth quarter valued at $42,000. Brooklyn Investment Group purchased a new stake in NOV during the 3rd quarter worth about $48,000. Finally, R Squared Ltd acquired a new position in shares of NOV during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NOV shares. ATB Capital restated a "sector perform" rating and set a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Evercore ISI reissued an "in-line" rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Raymond James boosted their price objective on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 18th. Finally, Piper Sandler upped 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. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $19.60.

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NOV Price Performance

Shares of NOV stock traded down $0.49 during midday trading on Friday, reaching $14.62. 25,542,664 shares of the company traded hands, compared to its average volume of 3,676,318. The firm's 50 day simple moving average is $14.98 and its two-hundred day simple moving average is $15.47. The firm has a market cap of $5.57 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a 1-year low of $13.78 and a 1-year high of $21.20.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (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%. On average, equities research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. NOV's payout ratio is currently 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.