Dimensional Fund Advisors LP Buys 1,934,243 Shares of NOV Inc. (NYSE:NOV)

Dimensional Fund Advisors LP grew its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 13.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,793,128 shares of the oil and gas exploration company's stock after purchasing an additional 1,934,243 shares during the period. Dimensional Fund Advisors LP owned approximately 4.32% of NOV worth $245,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake 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 valued at $179,718,000 after buying an additional 12,210,514 shares during the period. Geode Capital Management LLC increased its stake in shares of NOV by 4.7% during the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock valued at $97,815,000 after acquiring an additional 302,009 shares during the period. Van ECK Associates Corp raised its holdings in NOV by 22.1% during 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. Greenhaven Associates Inc. lifted its position in 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 worth $48,049,000 after purchasing an additional 1,255,666 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 purchasing an additional 91,800 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NYSE:NOV remained flat at $12.34 during trading hours on Friday. The company had a trading volume of 2,853,849 shares, compared to its average volume of 3,885,612. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $21.20. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 7.66, a P/E/G ratio of 1.02 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a fifty day moving average price of $13.89 and a two-hundred day moving average price of $14.87.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors 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 dividend on an annualized basis and a yield of 2.43%. NOV's payout ratio is 18.63%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NOV shares. The Goldman Sachs Group cut their price objective on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Piper Sandler upped their price target on shares of 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 shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Monday, March 24th. Finally, Susquehanna dropped their price target on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus 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.