Hillsdale Investment Management Inc. acquired a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 46,900 shares of the oil and gas exploration company's stock, valued at approximately $685,000.
Other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in NOV by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company's stock worth $8,489,000 after acquiring an additional 56,665 shares during the period. Greenhaven Associates Inc. raised its stake in shares of NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the period. Barclays PLC boosted its holdings in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after buying an additional 258,392 shares during the last quarter. Bank of Montreal Can grew its position in shares of NOV by 519.1% during the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company's stock valued at $7,000,000 after acquiring an additional 367,308 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in NOV in the third quarter worth $35,709,000. Institutional investors own 93.27% of the company's stock.
Wall Street Analyst Weigh In
NOV has been the subject of several recent research reports. Raymond James lifted their target price on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Evercore ISI restated an "in-line" rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Seaport Res Ptn cut NOV from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 5th. Piper Sandler raised their price objective 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, Royal Bank of Canada raised shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 target price on the stock in a report on Monday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $19.60.
Check Out Our Latest Research Report on NOV
NOV Trading Up 2.5 %
Shares of NYSE NOV traded up $0.38 during midday trading on Tuesday, hitting $15.50. 2,112,271 shares of the company traded hands, compared to its average volume of 3,668,206. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 12-month low of $13.78 and a 12-month high of $21.20. The stock has a 50-day moving average price of $14.99 and a 200 day moving average price of $15.41. The firm has a market cap of $5.90 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.02 and a beta of 1.66.
NOV (NYSE:NOV - Get Free Report) last announced its earnings results 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%. As a group, analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.
NOV Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 yield of 1.94%. The ex-dividend date is Friday, March 14th. NOV's dividend payout ratio (DPR) is presently 18.63%.
About NOV
(
Free Report)
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.
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