Ieq Capital LLC Buys New Holdings in NOV Inc. (NYSE:NOV)

Ieq Capital LLC purchased a new position in NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 159,346 shares of the oil and gas exploration company’s stock, valued at approximately $2,326,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of NOV during the third quarter worth approximately $36,000. UMB Bank n.a. increased its stake in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares in the last quarter. International Assets Investment Management LLC raised its holdings in NOV by 1,590.1% during the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 2,735 shares during the last quarter. Brooklyn Investment Group bought a new position in shares of NOV in the third quarter valued at $48,000. Finally, R Squared Ltd acquired a new position in shares of NOV during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

NOV has been the topic of a number of analyst reports. Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Thursday, February 6th. Evercore ISI reiterated an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Stock Down 2.2 %

NOV opened at $15.10 on Monday. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.20. The company’s 50-day moving average price is $14.95 and its two-hundred day moving average price is $15.86. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 1.02 and a beta of 1.64. 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 (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, equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend payout ratio (DPR) is currently 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.