T. Rowe Price Investment Management Inc. Has $21 Million Stake in NOV Inc. (NYSE:NOV)

T. Rowe Price Investment Management Inc. lowered its stake in NOV Inc. (NYSE:NOV - Free Report) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,438,206 shares of the oil and gas exploration company's stock after selling 46,854 shares during the period. T. Rowe Price Investment Management Inc. owned 0.37% of NOV worth $20,998,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of NOV by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after buying an additional 1,934,243 shares during the period. Pacer Advisors Inc. increased its position in NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock worth $179,718,000 after purchasing an additional 12,210,514 shares during the period. Geode Capital Management LLC lifted its position in NOV by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock valued at $97,815,000 after purchasing an additional 302,009 shares during the period. Van ECK Associates Corp grew its position in shares of NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after buying an additional 938,866 shares during the period. Finally, Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% in the fourth 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 buying an additional 1,255,666 shares during the period. Institutional investors own 93.27% of the company's stock.

NOV Stock Performance

Shares of NOV stock opened at $12.34 on Friday. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 7.66, a PEG ratio of 1.02 and a beta of 1.35. 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 Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a 50-day simple moving average of $13.82 and a 200 day simple moving average of $14.83.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating 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%. On average, sell-side analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.43%. NOV's payout ratio is presently 18.63%.

Analysts Set New Price Targets

NOV has been the subject of several recent research reports. Raymond James upped their target price on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Piper Sandler increased their target price on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Evercore ISI reaffirmed an "in-line" rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. 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, Susquehanna lowered their target price on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $19.00.

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.

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