Pacer Advisors Inc. Raises Stock Position in NOV Inc. (NYSE:NOV)

Pacer Advisors Inc. lifted its holdings in NOV Inc. (NYSE:NOV - Free Report) by 12,344.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,309,433 shares of the oil and gas exploration company's stock after purchasing an additional 12,210,514 shares during the period. Pacer Advisors Inc. owned approximately 3.16% of NOV worth $179,718,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Truist Financial Corp grew its position in shares of NOV by 3.4% during the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company's stock worth $565,000 after buying an additional 991 shares in the last quarter. HM Payson & Co. lifted its stake in NOV by 2.1% in the third quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company's stock worth $783,000 after acquiring an additional 1,000 shares during the last quarter. KBC Group NV grew its holdings in NOV by 11.8% during the 3rd 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 in the last quarter. Verum Partners LLC increased its position in shares of NOV by 9.0% in the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock valued at $220,000 after purchasing an additional 1,248 shares during the last quarter. Finally, UMB Bank n.a. raised its holdings 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 valued at $34,000 after purchasing an additional 1,612 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

NOV stock traded down $0.13 during trading on Monday, hitting $14.73. The company had a trading volume of 2,868,170 shares, compared to its average volume of 3,127,061. The firm has a 50-day moving average price of $15.14 and a 200-day moving average price of $16.36. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.73 billion, a PE ratio of 5.43, a price-to-earnings-growth ratio of 0.95 and a beta of 1.66. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.20.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, December 6th. NOV's payout ratio is currently 11.07%.

Analyst Ratings Changes

NOV has been the subject of a number of analyst reports. Bank of America lowered their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, October 14th. JPMorgan Chase & Co. lowered their price objective on NOV from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Thursday, October 3rd. TD Cowen cut their target price on NOV from $28.00 to $22.00 and set a "buy" rating on the stock in a research report on Monday, October 28th. Susquehanna lowered their price target on NOV from $22.00 to $21.00 and set a "positive" rating for the company in a report on Monday, October 28th. Finally, Piper Sandler started coverage on shares of NOV in a report on Thursday, December 19th. They set a "neutral" rating and a $17.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NOV has an average rating of "Hold" and a consensus target price of $20.00.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred 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 sale, the director now owns 110,951 shares of the company's stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.85% of the company's stock.

NOV Company 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.