First Pacific Advisors LP Takes Position in NOV Inc. (NYSE:NOV)

First Pacific Advisors LP acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,705,128 shares of the oil and gas exploration company's stock, valued at approximately $39,495,000. First Pacific Advisors LP owned about 0.70% of NOV at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. KBC Group NV raised its stake in NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company's stock valued at $177,000 after purchasing an additional 1,163 shares during the last quarter. Verum Partners LLC increased its holdings in shares of NOV by 9.0% during the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock worth $220,000 after buying an additional 1,248 shares during the last quarter. UMB Bank n.a. increased its stake in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock worth $271,000 after purchasing an additional 1,656 shares during the period. Finally, Canandaigua National Bank & Trust Co. lifted its position in NOV by 3.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company's stock valued at $874,000 after buying an additional 2,040 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

NOV has been the subject of several analyst reports. Raymond James upped their target price on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. ATB Capital reiterated a "sector perform" rating and issued a $19.00 target price on shares of NOV in a research report on Tuesday, December 10th. Evercore ISI restated an "in-line" rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Finally, Royal Bank of Canada lifted their target price on NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.60.

NOV Price Performance

Shares of NYSE NOV traded down $0.11 during mid-day trading on Thursday, reaching $14.00. The company had a trading volume of 5,000,484 shares, compared to its average volume of 3,602,680. The company has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $15.59. The stock has a market cap of $5.33 billion, a PE ratio of 8.69, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1-year low of $13.78 and a 1-year high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

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

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Friday, March 14th. NOV's dividend 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.