Invesco Ltd. decreased its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 62.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,384,777 shares of the oil and gas exploration company's stock after selling 2,260,257 shares during the quarter. Invesco Ltd. owned approximately 0.36% of NOV worth $20,218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in 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 valued at $179,718,000 after buying an additional 12,210,514 shares during the period. First Pacific Advisors LP acquired a new position in shares of NOV in the 4th quarter valued at $39,495,000. Greenhaven Associates Inc. lifted its stake in shares of 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 during the period. Van ECK Associates Corp boosted its position in shares of 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 worth $75,658,000 after purchasing an additional 938,866 shares during the last quarter. Finally, National Bank of Canada FI bought a new stake in NOV in the fourth quarter valued at about $10,678,000. 93.27% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
NOV has been the topic of a number of recent analyst reports. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a report on Tuesday, February 18th. Stifel Nicolaus decreased their price objective on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Raymond James lifted their price target on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada raised 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $19.00.
Get Our Latest Stock Analysis on NOV
NOV Stock Up 2.2 %
NOV stock traded up $0.27 during mid-day trading on Thursday, reaching $12.28. The company's stock had a trading volume of 666,162 shares, compared to its average volume of 3,877,521. The business's 50 day simple moving average is $13.95 and its 200 day simple moving average is $14.90. 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 12 month low of $10.84 and a 12 month high of $21.20. The company has a market capitalization of $4.65 billion, a price-to-earnings ratio of 7.62, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.
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, beating 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, research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.
NOV Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.44%. NOV's dividend payout ratio is presently 18.63%.
NOV Company Profile
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Free Report)
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.
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