Quantbot Technologies LP Acquires New Holdings in NOV Inc. (NYSE:NOV)

Quantbot Technologies LP acquired a new position in NOV Inc. (NYSE:NOV - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 480,229 shares of the oil and gas exploration company's stock, valued at approximately $7,011,000. Quantbot Technologies LP owned about 0.12% of NOV as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sciencast Management LP lifted its stake in NOV by 13.0% during the 4th quarter. Sciencast Management LP now owns 22,938 shares of the oil and gas exploration company's stock valued at $335,000 after acquiring an additional 2,635 shares during the period. Teacher Retirement System of Texas lifted its position in NOV by 30.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,810 shares of the oil and gas exploration company's stock valued at $2,260,000 after purchasing an additional 36,305 shares during the period. Privium Fund Management B.V. lifted its position in NOV by 13.1% during the fourth quarter. Privium Fund Management B.V. now owns 42,889 shares of the oil and gas exploration company's stock valued at $626,000 after purchasing an additional 4,964 shares during the period. Xponance Inc. boosted its holdings in NOV by 6.2% in the fourth quarter. Xponance Inc. now owns 45,150 shares of the oil and gas exploration company's stock valued at $659,000 after purchasing an additional 2,626 shares during the last quarter. Finally, Tejara Capital Ltd grew its position in NOV by 0.8% during the 4th quarter. Tejara Capital Ltd now owns 572,032 shares of the oil and gas exploration company's stock worth $8,352,000 after purchasing an additional 4,432 shares during the period. Institutional investors and hedge funds own 93.27% of the company's stock.

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NOV Price Performance

Shares of NYSE NOV traded up $0.35 during mid-day trading on Tuesday, reaching $15.47. The company's stock had a trading volume of 3,495,530 shares, compared to its average volume of 3,663,282. The stock has a market capitalization of $5.89 billion, a P/E ratio of 9.61, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1-year low of $13.78 and a 1-year high of $21.20. The stock has a 50-day moving average of $15.00 and a two-hundred day moving average of $15.40. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

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 for the quarter, topping analysts' consensus estimates 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 anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Friday, March 14th. NOV's payout ratio is currently 18.63%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOV. Atb Cap Markets cut shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Seaport Res Ptn cut shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Evercore ISI reissued an "in-line" rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a research report on Tuesday, February 18th. Finally, Piper Sandler increased their price target on NOV from $17.00 to $18.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.60.

About NOV

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.