NOV Inc. (NYSE:NOV) Stock Position Lifted by Sciencast Management LP

Sciencast Management LP grew its position in shares of NOV Inc. (NYSE:NOV) by 13.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,938 shares of the oil and gas exploration company’s stock after buying an additional 2,635 shares during the quarter. Sciencast Management LP’s holdings in NOV were worth $335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of NOV. UMB Bank n.a. lifted its holdings in 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 buying an additional 1,612 shares during the last quarter. Quarry LP bought a new stake in shares of NOV in the 3rd quarter worth approximately $36,000. Signaturefd LLC lifted its holdings in shares of NOV by 41.3% in 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 during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of NOV in the 4th quarter worth approximately $42,000. Finally, R Squared Ltd bought a new stake in shares of NOV in the 4th quarter worth approximately $44,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Down 3.2 %

Shares of NOV stock opened at $14.62 on Friday. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The stock has a market cap of $5.57 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business’s fifty day moving average is $14.99 and its 200-day moving average is $15.43. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last issued its 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%. Equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NOV. Barclays raised their price target on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Piper Sandler raised their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Raymond James raised their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Royal Bank of Canada raised their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.