Amundi Has $4.55 Million Stock Position in NOV Inc. (NYSE:NOV)

Amundi raised its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 313.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,071 shares of the oil and gas exploration company's stock after acquiring an additional 235,771 shares during the period. Amundi owned approximately 0.08% of NOV worth $4,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank n.a. grew its stake in shares of NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after buying an additional 1,612 shares in the last quarter. Quarry LP purchased a new position in NOV in the third quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of NOV during the 4th quarter valued at $42,000. R Squared Ltd acquired a new position in shares of NOV during the fourth quarter valued at about $44,000. Finally, Brooklyn Investment Group purchased a new position in NOV in the 3rd quarter worth $48,000. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the subject of several analyst reports. Piper Sandler boosted their price objective on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Seaport Res Ptn lowered NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Raymond James upped their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their target price on NOV from $21.00 to $22.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Finally, Atb Cap Markets cut NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, NOV currently has an average rating of "Hold" and a consensus price target of $19.60.

Remove Ads

NOV Stock Performance

NYSE NOV traded up $0.35 on Wednesday, hitting $15.03. The stock had a trading volume of 2,923,950 shares, compared to its average volume of 4,249,521. The company's 50-day moving average is $14.96 and its two-hundred day moving average is $15.47. NOV Inc. has a one year low of $13.77 and a one year high of $21.20. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 9.33, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.00%. NOV's dividend payout ratio (DPR) is 18.63%.

NOV 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.