29,084 Shares in NOV Inc. (NYSE:NOV) Bought by Vestcor Inc

Vestcor Inc purchased a new position in NOV Inc. (NYSE:NOV) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 29,084 shares of the oil and gas exploration company’s stock, valued at approximately $425,000.

Several other institutional investors have also added to or reduced their stakes in the business. UMB Bank n.a. raised its position in shares of NOV by 222.3% in 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 during the last quarter. Quarry LP acquired a new position in NOV during the 3rd quarter valued at approximately $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of NOV in the fourth quarter worth $42,000. R Squared Ltd acquired a new stake in shares of NOV during the fourth quarter worth $44,000. Finally, Brooklyn Investment Group purchased a new stake in shares of NOV during the third quarter valued at $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 2.1 %

Shares of NOV stock opened at $14.61 on Tuesday. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The company has a market cap of $5.56 billion, a P/E ratio of 9.07, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The firm has a 50-day simple moving average of $14.97 and a two-hundred day simple moving average of $15.49.

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%. As a group, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.05%. NOV’s dividend payout ratio is currently 18.63%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James lifted their price target on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Barclays lifted their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada increased their price target on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. Evercore ISI reissued an “in-line” rating and set a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NOV has an average rating of “Hold” and a consensus target price of $19.60.

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.