Commonwealth Equity Services LLC Raises Stock Position in NOV Inc. (NYSE:NOV)

Commonwealth Equity Services LLC raised its position in shares of NOV Inc. (NYSE:NOV) by 28.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,425 shares of the oil and gas exploration company’s stock after buying an additional 5,605 shares during the quarter. Commonwealth Equity Services LLC’s holdings in NOV were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares during the period. Van ECK Associates Corp lifted its holdings in shares of NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after purchasing an additional 938,866 shares during the last quarter. Greenhaven Associates Inc. increased its holdings in shares of NOV by 61.7% during the fourth 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. Charles Schwab Investment Management Inc. lifted its stake in shares of NOV by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock worth $44,089,000 after buying an additional 91,800 shares during the period. Finally, First Pacific Advisors LP purchased a new position in shares of NOV in the fourth quarter worth about $39,495,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Monday, March 24th. Barclays raised their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a report 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 report on Monday, February 10th. Finally, Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Two equities research 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’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Price Performance

Shares of NYSE:NOV opened at $11.92 on Monday. The firm has a market capitalization of $4.54 billion, a P/E ratio of 7.40, a P/E/G ratio of 1.02 and a beta of 1.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a 12 month low of $11.66 and a 12 month high of $21.20. The company’s fifty day moving average price is $14.91 and its 200 day moving average price is $15.32.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating 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%. As a group, 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 declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.52%. NOV’s dividend payout ratio (DPR) is presently 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.