Victory Capital Management Inc. Acquires 58,184 Shares of NOV Inc. (NYSE:NOV)

Victory Capital Management Inc. lifted its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 52.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,168 shares of the oil and gas exploration company's stock after purchasing an additional 58,184 shares during the quarter. Victory Capital Management Inc.'s holdings in NOV were worth $2,455,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NOV. Harbor Capital Advisors Inc. grew its stake in shares of NOV by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company's stock worth $8,489,000 after buying an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in shares of NOV by 61.7% during 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 in the last quarter. Barclays PLC grew its position in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after acquiring an additional 258,392 shares during the last quarter. Bank of Montreal Can increased its holdings in NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company's stock worth $7,000,000 after purchasing an additional 367,308 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in NOV in the 3rd quarter worth about $35,709,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

NOV Stock Up 0.5 %

NYSE NOV traded up $0.08 on Thursday, hitting $15.10. 2,745,532 shares of the company were exchanged, compared to its average volume of 3,601,530. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.75 billion, a PE ratio of 9.39, a PEG ratio of 1.02 and a beta of 1.66. The stock has a fifty day moving average of $14.97 and a 200-day moving average of $15.47. NOV Inc. has a 12 month low of $13.78 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 earnings per share (EPS) 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%. As a group, analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. NOV's dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on NOV shares. Atb Cap Markets cut NOV from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Evercore ISI reissued an "in-line" rating and set a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. ATB Capital restated a "sector perform" rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Royal Bank of Canada lifted their price target on shares of NOV from $21.00 to $22.00 and gave the stock a "sector perform" rating in a report on Thursday, February 6th. Finally, Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price 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.