CenterBook Partners LP Invests $1.05 Million in NOV Inc. (NYSE:NOV)

CenterBook Partners LP purchased a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 72,177 shares of the oil and gas exploration company's stock, valued at approximately $1,054,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in NOV during the 4th quarter valued at about $3,332,000. Cerity Partners LLC boosted its stake in shares of NOV by 101.8% in the fourth quarter. Cerity Partners LLC now owns 129,610 shares of the oil and gas exploration company's stock valued at $1,906,000 after purchasing an additional 65,370 shares during the period. Aristides Capital LLC boosted its stake in shares of NOV by 12.1% in the fourth quarter. Aristides Capital LLC now owns 33,630 shares of the oil and gas exploration company's stock valued at $491,000 after purchasing an additional 3,630 shares during the period. Huntington National Bank grew its holdings in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock valued at $32,000 after purchasing an additional 1,034 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in NOV by 1.7% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 308,080 shares of the oil and gas exploration company's stock worth $4,498,000 after buying an additional 5,019 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

Shares of NOV stock traded up $0.07 during trading hours on Wednesday, hitting $12.08. The stock had a trading volume of 3,717,828 shares, compared to its average volume of 3,878,138. The stock's 50 day moving average is $14.39 and its 200 day moving average is $15.05. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The firm has a market capitalization of $4.60 billion, a PE ratio of 7.50, a PEG ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

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NOV (NYSE:NOV - Get Free Report) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating 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, research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.48%. NOV's dividend payout ratio (DPR) is currently 18.63%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on NOV shares. Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays upped their price target on NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, March 24th. Raymond James upped 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. Finally, The Goldman Sachs Group lowered their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, NOV presently has a consensus rating of "Hold" and a consensus price target of $19.00.

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.