Raymond James Financial Inc. Takes $3.33 Million Position in NOV Inc. (NYSE:NOV)

Raymond James Financial Inc. acquired a new position in shares of NOV Inc. (NYSE:NOV) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 228,252 shares of the oil and gas exploration company’s stock, valued at approximately $3,332,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. Aigen Investment Management LP increased its stake in shares of NOV by 650.6% in the fourth quarter. Aigen Investment Management LP now owns 113,926 shares of the oil and gas exploration company’s stock worth $1,663,000 after acquiring an additional 98,748 shares during the period. Proficio Capital Partners LLC purchased a new position in NOV during the fourth quarter worth approximately $341,000. Victory Capital Management Inc. raised its stake in NOV by 52.9% during the fourth quarter. Victory Capital Management Inc. now owns 168,168 shares of the oil and gas exploration company’s stock worth $2,455,000 after purchasing an additional 58,184 shares during the period. Charles Schwab Investment Management Inc. raised its position in NOV by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock valued at $44,089,000 after purchasing an additional 91,800 shares during the period. Finally, QRG Capital Management Inc. purchased a new stake in shares of NOV in the 4th quarter valued at approximately $351,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on NOV. Barclays lifted their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Piper Sandler increased their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research note on Monday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $19.60.

NOV Trading Down 1.1 %

Shares of NOV stock opened at $15.27 on Friday. The firm has a market cap of $5.81 billion, a PE ratio of 9.48, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The business’s fifty day moving average is $15.01 and its two-hundred day moving average is $15.40.

NOV (NYSE:NOV) last issued 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%. Analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio is presently 18.63%.

NOV Company Profile

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.