Allianz SE purchased a new position in shares of NOV Inc. (NYSE:NOV - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 57,414 shares of the oil and gas exploration company's stock, valued at approximately $838,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Quarry LP acquired a new position in shares of NOV during the third quarter worth approximately $36,000. UMB Bank n.a. raised its position in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after purchasing an additional 1,612 shares during the last quarter. Signaturefd LLC lifted its holdings in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in NOV in the 4th quarter valued at $42,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of NOV in the 4th quarter valued at $41,000. 93.27% of the stock is owned by institutional investors and hedge funds.
NOV Stock Down 10.9 %
NOV stock traded down $1.46 during midday trading on Friday, reaching $11.92. The stock had a trading volume of 7,554,328 shares, compared to its average volume of 3,785,720. The stock has a market capitalization of $4.54 billion, a P/E ratio of 7.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. The firm's fifty day simple moving average is $14.91 and its 200-day simple moving average is $15.34. 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 1-year low of $11.66 and a 1-year high of $21.20.
NOV (NYSE:NOV - Get Free Report) last announced its quarterly earnings data 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 EPS for the current fiscal year.
NOV Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio is currently 18.63%.
Wall Street Analysts Forecast Growth
NOV has been the topic of several research reports. Atb Cap Markets lowered NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Piper Sandler raised their target price on shares of NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Raymond James lifted their price target on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Barclays increased their price objective on shares of NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Finally, ATB Capital reaffirmed a "sector perform" rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $19.60.
Get Our Latest Stock Analysis on NOV
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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