Ieq Capital LLC Takes Position in NOV Inc. (NYSE:NOV)

Ieq Capital LLC acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 159,346 shares of the oil and gas exploration company's stock, valued at approximately $2,326,000.

Several other large investors have also recently added to or reduced their stakes in NOV. Pzena Investment Management LLC grew its stake in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company's stock worth $687,143,000 after acquiring an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company's stock worth $593,336,000 after purchasing an additional 6,963,660 shares in the last quarter. Pacer Advisors Inc. increased its holdings in NOV by 12,344.0% during the 4th 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 during the period. Van ECK Associates Corp raised its position in NOV by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock valued at $75,658,000 after purchasing an additional 938,866 shares in the last quarter. Finally, Greenhaven Associates Inc. raised its position in NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock valued at $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

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NOV Stock Performance

Shares of NOV stock traded up $0.08 on Thursday, reaching $15.02. 2,848,446 shares of the stock were exchanged, compared to its average volume of 3,882,877. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.72 billion, a PE ratio of 9.33, a PEG ratio of 1.02 and a beta of 1.64. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.20. The business has a fifty day moving average price of $14.98 and a two-hundred day moving average price of $15.81.

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 earnings per share for the quarter, topping analysts' consensus estimates 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, research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. NOV's payout ratio is 18.63%.

Analysts Set New Price Targets

NOV has been the topic of a number of recent research reports. Atb Cap Markets lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Raymond James raised their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Citigroup downgraded shares of NOV from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Evercore ISI reissued an "in-line" rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, ATB Capital reissued a "sector perform" rating and set a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, NOV currently has an average rating of "Hold" and an average target price of $19.60.

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.