Farringdon Capital Ltd. Makes New $406,000 Investment in NOV Inc. (NYSE:NOV)

Farringdon Capital Ltd. bought a new position in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 27,839 shares of the oil and gas exploration company’s stock, valued at approximately $406,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harbor Capital Advisors Inc. grew its stake 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 valued at $8,489,000 after purchasing an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of NOV by 61.7% during the fourth 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 in the last quarter. Barclays PLC raised its holdings in NOV by 120.1% in the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after acquiring an additional 258,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in NOV by 10.8% during the 4th 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 acquiring an additional 1,656 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in NOV by 5.6% during the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock worth $5,798,000 after acquiring an additional 20,952 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

NYSE:NOV opened at $12.52 on Friday. The company has a 50-day moving average of $14.25 and a 200-day moving average of $15.01. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (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%. Analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio is presently 18.63%.

Wall Street Analyst Weigh In

A number of research analysts have commented on NOV shares. Raymond James increased their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Stifel Nicolaus lowered their target price on NOV from $25.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday. Evercore ISI restated an “in-line” rating and set a $18.00 price objective (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research note on Monday, March 24th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, NOV presently has an average rating of “Hold” and a consensus price target of $19.00.

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.