Polaris Capital Management LLC Sells 14,360 Shares of NOV Inc. (NYSE:NOV)

Polaris Capital Management LLC cut its stake in shares of NOV Inc. (NYSE:NOV) by 0.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,831,193 shares of the oil and gas exploration company’s stock after selling 14,360 shares during the period. Polaris Capital Management LLC’s holdings in NOV were worth $26,735,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOV. Pacer Advisors Inc. lifted its stake in shares of NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after buying an additional 12,210,514 shares in the last quarter. Pzena Investment Management LLC lifted its position in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after buying an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after purchasing an additional 6,963,660 shares during the period. Weiss Asset Management LP purchased a new position in NOV in the 3rd quarter valued at approximately $35,709,000. Finally, Greenhaven Associates Inc. raised its stake in shares of NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NOV. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada raised their price target on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 6th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Bank of America decreased their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Finally, Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $19.53.

NOV Stock Up 2.1 %

Shares of NOV opened at $15.95 on Tuesday. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64. The business’s 50 day simple moving average is $14.90 and its 200-day simple moving average is $16.08. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.65. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (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, equities analysts expect that NOV Inc. will post 1.42 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. NOV’s payout ratio is 18.63%.

Insiders Place Their Bets

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.85% of the company’s stock.

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.