QRG Capital Management Inc. bought a new stake in NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 24,032 shares of the oil and gas exploration company's stock, valued at approximately $351,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock valued at $179,718,000 after acquiring an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC lifted its holdings in NOV by 22.3% in the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company's stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in NOV by 23.1% in the 3rd 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 acquiring an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP acquired a new stake in NOV in the 3rd quarter valued at about $35,709,000. Finally, Greenhaven Associates Inc. lifted its holdings 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 valued at $48,049,000 after acquiring an additional 1,255,666 shares during the last quarter. Institutional investors own 93.27% of the company's stock.
Analyst Upgrades and Downgrades
NOV has been the subject of a number of research analyst reports. Raymond James upped their price target on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Atb Cap Markets downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. 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. Seaport Res Ptn lowered shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $19.60.
Read Our Latest Stock Analysis on NOV
NOV Stock Up 4.6 %
Shares of NYSE NOV traded up $0.65 during mid-day trading on Friday, reaching $15.00. The company had a trading volume of 6,367,474 shares, compared to its average volume of 4,049,531. The stock has a fifty day moving average of $15.01 and a two-hundred day moving average of $15.65. 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 company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 1.02 and a beta of 1.66. NOV Inc. has a 12-month low of $13.77 and a 12-month high of $21.20.
NOV (NYSE:NOV - Get Free Report) last released 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%. As a group, equities research analysts expect that NOV Inc. will post 1.4 EPS for the current year.
NOV Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.00%. NOV's dividend payout ratio is currently 18.63%.
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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