NOV Inc. (NYSE:NOV) Shares Acquired by Pinebridge Investments L.P.

Pinebridge Investments L.P. raised its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,324 shares of the oil and gas exploration company's stock after purchasing an additional 38,904 shares during the quarter. Pinebridge Investments L.P.'s holdings in NOV were worth $1,888,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock worth $245,178,000 after buying an additional 1,934,243 shares in the last quarter. Pacer Advisors Inc. grew 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 acquiring an additional 12,210,514 shares in the last quarter. Geode Capital Management LLC increased its position in shares of NOV by 4.7% in the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock worth $97,815,000 after purchasing an additional 302,009 shares during the last quarter. Van ECK Associates Corp raised its stake 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 purchasing an additional 938,866 shares in the last quarter. Finally, Greenhaven Associates Inc. lifted its position in shares of NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Performance

NOV stock opened at $12.34 on Monday. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The stock has a market capitalization of $4.67 billion, a PE ratio of 7.66, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The firm has a 50 day simple moving average of $13.82 and a 200-day simple moving average of $14.82. 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 (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 (EPS) 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, equities research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.43%. NOV's dividend payout ratio (DPR) is 18.63%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOV. Stifel Nicolaus cut their price objective on NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Susquehanna dropped their target price on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. The Goldman Sachs Group decreased their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, March 24th. Finally, Evercore ISI restated an "in-line" rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, NOV has an average rating of "Hold" and an average target price of $19.00.

About NOV

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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