Proficio Capital Partners LLC Makes New Investment in NOV Inc. (NYSE:NOV)

Proficio Capital Partners LLC bought a new stake in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,331 shares of the oil and gas exploration company’s stock, valued at approximately $341,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOV. Pacer Advisors Inc. boosted its stake in NOV by 12,344.0% during 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 acquiring an additional 12,210,514 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of NOV by 23.1% during the third 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 purchasing an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of NOV in the 3rd quarter worth approximately $35,709,000. Greenhaven Associates Inc. grew its stake in shares of 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 worth $48,049,000 after buying an additional 1,255,666 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of NOV by 22.1% in 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 last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Trading Up 2.3 %

Shares of NYSE:NOV opened at $15.47 on Wednesday. NOV Inc. has a 52-week low of $13.78 and a 52-week high of $21.20. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.02 and a beta of 1.66. 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 stock’s 50-day simple moving average is $15.00 and its two-hundred day simple moving average is $15.40.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently announced 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 of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.94%. NOV’s dividend payout ratio is currently 18.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Evercore ISI reissued an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. ATB Capital reissued a “sector perform” rating and set a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a report on Monday. Finally, Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Two 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 data from MarketBeat, the company currently 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.