Xponance Inc. Boosts Stock Position in NOV Inc. (NYSE:NOV)

Xponance Inc. boosted its position in NOV Inc. (NYSE:NOV) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,150 shares of the oil and gas exploration company’s stock after purchasing an additional 2,626 shares during the quarter. Xponance Inc.’s holdings in NOV were worth $659,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its stake in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares during the last quarter. Verum Partners LLC boosted its holdings in NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after acquiring an additional 1,248 shares in the last quarter. UMB Bank n.a. grew its stake in shares of 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 acquiring an additional 1,612 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of NOV by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its stake in NOV by 3.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after purchasing an additional 2,040 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NOV. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays raised their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. ATB Capital reiterated a “sector perform” rating and set a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Price Performance

Shares of NOV stock opened at $15.47 on Wednesday. The firm has a market cap of $5.89 billion, a PE ratio of 9.61, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a twelve month low of $13.78 and a twelve month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $15.00 and a 200 day moving average price of $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 for the quarter, topping 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%. Sell-side analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

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

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.