Geode Capital Management LLC Grows Stock Holdings in NOV Inc. (NYSE:NOV)

Geode Capital Management LLC boosted its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 4.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,697,650 shares of the oil and gas exploration company's stock after purchasing an additional 302,009 shares during the period. Geode Capital Management LLC owned about 1.72% of NOV worth $97,815,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of NOV by 222.3% in 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 purchasing an additional 1,612 shares during the period. Quarry LP acquired a new stake in shares of NOV during the third quarter worth approximately $36,000. Signaturefd LLC lifted its position 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. CoreFirst Bank & Trust bought a new position in NOV in the 4th quarter valued at $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in NOV during the 4th quarter worth about $42,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Price Performance

NYSE:NOV traded up $0.08 during mid-day trading on Tuesday, reaching $12.11. The stock had a trading volume of 455,565 shares, compared to its average volume of 3,862,584. The stock has a market capitalization of $4.61 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.02 and a beta of 1.35. 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 one year low of $10.84 and a one year high of $21.20. The firm has a 50 day moving average price of $14.45 and a two-hundred day moving average price of $15.07.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly 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 Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on NOV shares. Raymond James increased their target price on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn lowered NOV from a "strong-buy" rating to a "hold" rating in a research report on Sunday, January 5th. Royal Bank of Canada upgraded NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 target price for the company in a research note on Monday, March 24th. Finally, Barclays raised their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research report on Tuesday, February 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $19.06.

NOV 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.