New Age Alpha Advisors LLC grew its stake in shares of NOV Inc. (NYSE:NOV – Free Report) by 11.8% in the 4th quarter, HoldingsChannel reports. The fund owned 346,831 shares of the oil and gas exploration company’s stock after purchasing an additional 36,588 shares during the quarter. New Age Alpha Advisors LLC’s holdings in NOV were worth $5,421,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently bought and sold shares of NOV. Royal Bank of Canada lifted its position in NOV by 15.6% during the first quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock worth $756,000 after acquiring an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NOV by 35.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after acquiring an additional 42,462 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in NOV by 17.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock worth $16,168,000 after acquiring an additional 157,385 shares during the last quarter. Focus Partners Wealth acquired a new stake in NOV during the first quarter worth approximately $214,000. Finally, Cetera Investment Advisers acquired a new stake in NOV during the second quarter worth approximately $190,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on NOV. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. Stifel Nicolaus raised their price objective on shares of NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Citigroup lifted their price target on shares of NOV from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. Argus upgraded shares of NOV to a “hold” rating in a research report on Tuesday, February 10th. Finally, Susquehanna lifted their price target on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $19.36.
NOV Price Performance
NYSE NOV opened at $20.81 on Monday. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. NOV Inc. has a 1-year low of $11.65 and a 1-year high of $21.38. The company has a 50 day moving average of $19.62 and a 200-day moving average of $18.09. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 86.71 and a beta of 0.92.
NOV (NYSE:NOV – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the previous year, the firm posted $0.19 earnings per share. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that NOV Inc. will post 0.91 earnings per share for the current fiscal year.
NOV Dividend Announcement
The company also recently disclosed a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.09 per share. This represents a yield of 173.0%. The ex-dividend date is Friday, June 12th. NOV’s payout ratio is currently 150.00%.
NOV Profile
National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.
NOV’s business is organized to serve upstream energy companies around the world.
Featured Articles
- Five stocks we like better than NOV
- The Smart Glasses Gold Rush Is Leaving Old-School Eyewear Behind
- 3 Rare Earth Stocks That Win No Matter What China Does Next
- Amylyx Stock: Why the Full Pipeline Story Matters
- Palantir and Dell Build an AI OS for the Paranoid
Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOV Inc. (NYSE:NOV – Free Report).
Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.
