JPMorgan Chase & Co. Has $12.96 Million Stake in NOV Inc. (NYSE:NOV)

JPMorgan Chase & Co. lifted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 887,362 shares of the oil and gas exploration company's stock after purchasing an additional 92,006 shares during the quarter. JPMorgan Chase & Co. owned 0.23% of NOV worth $12,955,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pacer Advisors Inc. lifted its position in NOV by 12,344.0% in the 4th 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 acquiring an additional 12,210,514 shares in the last quarter. First Pacific Advisors LP bought a new position in shares of NOV during the 4th quarter worth approximately $39,495,000. Greenhaven Associates Inc. raised its holdings in shares of NOV by 61.7% in the fourth 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 last quarter. Van ECK Associates Corp lifted its position in shares of NOV by 22.1% in the fourth 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 in the last quarter. Finally, American Century Companies Inc. boosted its holdings in NOV by 416.5% during the fourth quarter. American Century Companies Inc. now owns 648,506 shares of the oil and gas exploration company's stock worth $9,468,000 after purchasing an additional 522,941 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Seaport Res Ptn downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research report on Monday, March 24th. Raymond James increased their price objective on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Piper Sandler upped their price target on shares of NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, The Goldman Sachs Group dropped their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Three equities 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $19.00.

NOV Price Performance

NOV traded up $0.47 on Friday, hitting $12.52. 3,187,759 shares of the stock were exchanged, compared to its average volume of 3,896,142. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 1.02 and a beta of 1.35. The business has a 50-day moving average of $14.17 and a two-hundred day moving average of $14.98.

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 (EPS) for the quarter, beating 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%. Sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.40%. NOV's 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.