National Bank of Canada FI acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 731,400 shares of the oil and gas exploration company's stock, valued at approximately $10,678,000. National Bank of Canada FI owned about 0.19% of NOV as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of 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 worth $179,718,000 after acquiring an additional 12,210,514 shares during the last quarter. Van ECK Associates Corp raised its holdings 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 valued at $75,658,000 after buying an additional 938,866 shares during the period. Greenhaven Associates Inc. lifted its stake in NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock worth $48,049,000 after acquiring an additional 1,255,666 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NOV by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company's stock valued at $44,089,000 after acquiring an additional 91,800 shares during the period. Finally, First Pacific Advisors LP acquired a new position in NOV in the 4th quarter valued at about $39,495,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
NOV has been the topic of several recent research reports. Evercore ISI reaffirmed an "in-line" rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Piper Sandler lifted their target price on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Barclays upped their target price on shares of NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. Finally, Seaport Res Ptn downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $19.60.
Check Out Our Latest Stock Report on NOV
NOV Stock Performance
NOV traded down $1.22 on Thursday, hitting $11.55. 1,505,958 shares of the company traded hands, compared to its average volume of 3,837,416. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The company has a 50 day moving average of $14.65 and a 200-day moving average of $15.17. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.40 billion, a PE ratio of 7.19, a PEG ratio of 1.02 and a beta of 1.35.
NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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%. Sell-side analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.
NOV Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio is presently 18.63%.
About NOV
(
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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