NOV Inc. (NYSE:NOV) Shares Acquired by Sciencast Management LP

Sciencast Management LP grew its stake in NOV Inc. (NYSE:NOV) by 13.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,938 shares of the oil and gas exploration company’s stock after purchasing an additional 2,635 shares during the period. Sciencast Management LP’s holdings in NOV were worth $335,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NOV. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the period. Quarry LP acquired a new position in NOV during the third quarter worth $36,000. Signaturefd LLC grew its holdings in NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after acquiring an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV during the fourth quarter worth $42,000. Finally, R Squared Ltd acquired a new position in NOV during the fourth quarter worth $44,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

NYSE NOV opened at $14.62 on Friday. The business’s 50-day moving average price is $14.99 and its 200 day moving average price is $15.43. NOV Inc. has a twelve month low of $13.78 and a twelve month high of $21.20. The company has a market capitalization 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 company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping 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%. On average, research analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

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

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price 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 Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI reiterated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock 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.