Edmond DE Rothschild Holding S.A. Reduces Position in NOV Inc. (NYSE:NOV)

Edmond DE Rothschild Holding S.A. trimmed its position in NOV Inc. (NYSE:NOV - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440,000 shares of the oil and gas exploration company's stock after selling 200,000 shares during the period. Edmond DE Rothschild Holding S.A. owned approximately 0.37% of NOV worth $21,024,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NOV. Pacer Advisors Inc. lifted its position in shares of NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock worth $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company's stock valued at $593,336,000 after acquiring an additional 6,963,660 shares during the last quarter. First Pacific Advisors LP acquired a new position in shares of NOV during the 4th quarter worth approximately $39,495,000. Weiss Asset Management LP bought a new position in shares of NOV in the third quarter valued at $35,709,000. Finally, Greenhaven Associates Inc. raised its position in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock worth $48,049,000 after acquiring an additional 1,255,666 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

NOV has been the topic of several recent analyst reports. Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, March 24th. Atb Cap Markets downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Evercore ISI reissued 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. Raymond James boosted their price target on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Piper Sandler boosted their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $19.60.

NOV Trading Down 10.4 %

NOV stock traded down $1.39 during trading on Friday, reaching $11.98. The company had a trading volume of 2,458,938 shares, compared to its average volume of 3,772,310. NOV Inc. has a 52 week low of $11.72 and a 52 week high of $21.20. The business has a 50 day moving average of $14.97 and a 200 day moving average of $15.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The company has a market cap of $4.56 billion, a P/E ratio of 7.40, a PEG ratio of 1.02 and a beta of 1.34.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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, sell-side 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 given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio (DPR) is presently 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.