Pictet Asset Management Holding SA Boosts Stake in NOV Inc. (NYSE:NOV)

Pictet Asset Management Holding SA raised its stake in shares of NOV Inc. (NYSE:NOV) by 14.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,893 shares of the oil and gas exploration company’s stock after buying an additional 7,749 shares during the quarter. Pictet Asset Management Holding SA’s holdings in NOV were worth $918,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NOV. Harbor Capital Advisors Inc. increased its position in NOV by 10.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after purchasing an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. boosted its stake 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 worth $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. Barclays PLC grew its holdings in shares of NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of NOV by 10.8% in 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 buying an additional 1,656 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of NOV by 5.6% during the fourth quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock valued at $5,798,000 after buying an additional 20,952 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 10.9 %

Shares of NOV opened at $11.92 on Monday. 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 stock has a market cap of $4.54 billion, a PE ratio of 7.40, a P/E/G ratio of 1.02 and a beta of 1.34. The stock’s 50-day moving average is $14.91 and its two-hundred day moving average is $15.32.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 18.63%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NOV shares. Piper Sandler boosted their price target on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Raymond James upped their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday, March 24th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $19.60.

NOV 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.