NOV Inc. (NYSE:NOV) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC lifted its stake in NOV Inc. (NYSE:NOV) by 199.8% in the 4th quarter, Holdings Channel reports. The firm owned 17,946 shares of the oil and gas exploration company’s stock after purchasing an additional 11,960 shares during the quarter. AlphaQuest LLC’s holdings in NOV were worth $262,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NOV. Pacer Advisors Inc. boosted its stake in shares of 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 worth $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Pzena Investment Management LLC boosted its position in NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in NOV by 23.1% in 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 purchased a new position in shares of NOV in the third quarter valued at $35,709,000. Finally, Greenhaven Associates Inc. raised 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 buying an additional 1,255,666 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NYSE:NOV opened at $14.29 on Friday. The firm has a market capitalization of $5.44 billion, a PE ratio of 8.87, a P/E/G ratio of 1.02 and a beta of 1.66. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The business has a 50-day moving average of $14.97 and a two-hundred day moving average of $15.53.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOV shares. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Piper Sandler lifted 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. ATB Capital reiterated a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Royal Bank of Canada boosted their price target on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Finally, Seaport Res Ptn cut 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, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.