Vanguard Group Inc. lowered its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 0.1% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,896,867 shares of the oil and gas exploration company's stock after selling 32,394 shares during the quarter. Vanguard Group Inc. owned 10.00% of NOV worth $567,894,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in NOV. UMB Bank n.a. raised its holdings in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP purchased a new position in NOV in the third quarter valued at about $36,000. Signaturefd LLC lifted its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of NOV during the 4th quarter worth approximately $42,000. Finally, R Squared Ltd acquired a new stake in shares of NOV in the 4th quarter worth approximately $44,000. Institutional investors and hedge funds own 93.27% of the company's stock.
NOV Trading Down 10.9 %
Shares of NOV traded down $1.46 during mid-day trading on Friday, reaching $11.92. The company had a trading volume of 7,554,328 shares, compared to its average volume of 3,784,651. NOV Inc. has a fifty-two week low of $11.66 and a fifty-two week high of $21.20. The firm has a fifty day simple moving average of $14.91 and a 200-day simple moving average of $15.33. The stock has a market cap of $4.54 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 1.02 and a beta of 1.34. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.
NOV (NYSE:NOV - Get Free Report) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.
NOV Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.52%. NOV's dividend payout ratio (DPR) is 18.63%.
Analyst Upgrades and Downgrades
NOV has been the subject of several research reports. Seaport Res Ptn cut NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Monday, March 24th. Evercore ISI reissued an "in-line" rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Atb Cap Markets downgraded NOV from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, Barclays upped their target price on shares of NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a report on Tuesday, February 18th. Two investment 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $19.60.
Check Out Our Latest Stock Analysis on NOV
About NOV
(
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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