Greenhaven Associates Inc. lifted its stake in NOV Inc. (NYSE:NOV - Free Report) by 61.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,291,042 shares of the oil and gas exploration company's stock after buying an additional 1,255,666 shares during the period. NOV makes up approximately 0.7% of Greenhaven Associates Inc.'s investment portfolio, making the stock its 15th biggest position. Greenhaven Associates Inc. owned about 0.85% of NOV worth $48,049,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in NOV. Pzena Investment Management LLC grew its holdings in shares of NOV by 22.3% during the 3rd 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 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 worth $593,336,000 after buying an additional 6,963,660 shares in the last quarter. AQR Capital Management LLC raised its position in shares of NOV by 232.6% in the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company's stock valued at $92,938,000 after buying an additional 3,418,885 shares in the last quarter. Weiss Asset Management LP bought a new stake in shares of NOV during the 3rd quarter worth approximately $35,709,000. Finally, Deprince Race & Zollo Inc. increased its stake in NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company's stock valued at $32,431,000 after acquiring an additional 1,574,188 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.
NOV Trading Down 2.7 %
Shares of NOV stock traded down $0.43 during trading hours on Wednesday, hitting $15.10. 1,726,398 shares of the company were exchanged, compared to its average volume of 3,005,159. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. The firm has a market cap of $5.87 billion, a P/E ratio of 5.57, a P/E/G ratio of 0.99 and a beta of 1.66. The company has a 50 day simple moving average of $15.24 and a two-hundred day simple moving average of $16.44. NOV Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $21.23.
NOV Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.99%. NOV's dividend payout ratio is 11.07%.
Analyst Upgrades and Downgrades
NOV has been the topic of a number of research analyst reports. Piper Sandler began coverage on NOV in a report on Thursday, December 19th. They issued a "neutral" rating and a $17.00 target price on the stock. Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, October 28th. Evercore ISI reiterated an "in-line" rating and set a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Finally, Barclays reduced their price target on NOV from $16.00 to $12.00 and set an "underweight" rating on the stock in a report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, NOV has an average rating of "Hold" and a consensus target price of $20.00.
Read Our Latest Analysis on NOV
Insider Buying and Selling at NOV
In related news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the sale, the director now directly owns 110,951 shares of the company's stock, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.85% of the company's stock.
NOV Company Profile
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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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