Pzena Investment Management LLC lessened its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 3.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,458,393 shares of the oil and gas exploration company's stock after selling 1,568,713 shares during the quarter. NOV accounts for about 2.1% of Pzena Investment Management LLC's investment portfolio, making the stock its 21st largest position. Pzena Investment Management LLC owned 10.66% of NOV worth $605,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also modified their holdings of NOV. GSA Capital Partners LLP raised its position in shares of NOV by 63.1% during the third quarter. GSA Capital Partners LLP now owns 46,808 shares of the oil and gas exploration company's stock worth $748,000 after acquiring an additional 18,102 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of NOV by 32.2% during the third quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company's stock worth $1,756,000 after acquiring an additional 26,792 shares during the last quarter. MQS Management LLC bought a new stake in shares of NOV during the third quarter worth $454,000. KBC Group NV raised its position in shares of NOV by 11.8% during the third quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company's stock worth $177,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of NOV during the third quarter worth $96,000. Institutional investors own 93.27% of the company's stock.
NOV Stock Up 2.1 %
NOV traded up $0.30 on Friday, hitting $14.29. 5,073,638 shares of the company were exchanged, compared to its average volume of 3,600,485. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a market cap of $5.44 billion, a PE ratio of 8.87, a PEG ratio of 1.02 and a beta of 1.66. 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's fifty day moving average is $14.97 and its 200-day moving average is $15.55.
NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) 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%. Equities research analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.
NOV Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.10%. NOV's dividend payout ratio is 18.63%.
Analysts Set New Price Targets
A number of brokerages recently commented on NOV. ATB Capital reaffirmed a "sector perform" rating and set a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Barclays lifted their price objective on NOV from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Tuesday, February 18th. Raymond James lifted their price objective on 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 lifted their price objective 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, Evercore ISI reaffirmed an "in-line" rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $19.60.
Read Our Latest Report on NOV
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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