NOV Inc. (NYSE:NOV) Shares Acquired by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC grew its stake in shares of NOV Inc. (NYSE:NOV) by 6.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 666,416 shares of the oil and gas exploration company’s stock after buying an additional 42,500 shares during the period. Ceredex Value Advisors LLC’s holdings in NOV were worth $9,730,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NOV. Huntington National Bank grew its position in NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock valued at $32,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd lifted its stake in shares of NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock valued at $33,000 after purchasing an additional 1,655 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of 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 worth $34,000 after purchasing an additional 1,612 shares during the period. Signaturefd LLC increased its position in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 756 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NOV during the 4th quarter worth approximately $42,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on NOV. Susquehanna decreased their price objective on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research note on Monday. Piper Sandler increased 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. Barclays raised their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research report on Monday, March 24th. Finally, Stifel Nicolaus dropped their target price on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, NOV presently has an average rating of “Hold” and a consensus target price of $19.00.

NOV Price Performance

Shares of NOV stock opened at $12.08 on Thursday. The firm has a fifty day moving average of $14.32 and a two-hundred day moving average of $15.03. The firm has a market cap of $4.60 billion, a P/E ratio of 7.50, a P/E/G ratio of 1.02 and a beta of 1.35. NOV Inc. has a 1-year low of $10.84 and a 1-year 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.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS 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, research analysts anticipate 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 given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio is currently 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.