Bank of New York Mellon Corp lowered its holdings in NOV Inc. (NYSE:NOV - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,993,229 shares of the oil and gas exploration company's stock after selling 937,011 shares during the quarter. Bank of New York Mellon Corp owned about 2.31% of NOV worth $131,301,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in NOV. Pacer Advisors Inc. lifted its position 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 buying an additional 12,210,514 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company's stock worth $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in shares of NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company's stock valued at $593,336,000 after purchasing an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP acquired a new stake in shares of NOV in the third quarter valued at approximately $35,709,000. Finally, Greenhaven Associates Inc. raised its position in NOV by 61.7% in 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 purchasing an additional 1,255,666 shares during the last quarter. Institutional investors own 93.27% of the company's stock.
NOV Stock Up 0.2 %
Shares of NOV traded up $0.04 on Tuesday, hitting $14.25. The company's stock had a trading volume of 2,577,303 shares, compared to its average volume of 3,865,777. The firm's fifty day moving average price is $15.01 and its 200-day moving average price is $15.74. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. 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 firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 8.84, a P/E/G ratio of 1.02 and a beta of 1.66.
NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 expect that NOV Inc. will post 1.4 EPS for the current year.
NOV Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, March 14th. NOV's dividend payout ratio is presently 18.63%.
Wall Street Analyst Weigh In
A number of research analysts have commented on the company. Wells Fargo & Company decreased their price objective on NOV from $16.00 to $15.00 and set an "underweight" rating on the stock in a research report on Monday, November 4th. ATB Capital reiterated a "sector perform" rating and issued a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Citigroup cut NOV from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Tuesday, February 18th. Finally, Atb Cap Markets downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $19.60.
Check Out Our Latest Report on NOV
NOV Company Profile
(
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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