Loomis Sayles & Co. L P Has $18.79 Million Stock Position in NOV Inc. (NYSE:NOV)

Loomis Sayles & Co. L P reduced its position in NOV Inc. (NYSE:NOV) by 3.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,286,709 shares of the oil and gas exploration company’s stock after selling 40,175 shares during the period. Loomis Sayles & Co. L P owned about 0.33% of NOV worth $18,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NOV. Harbor Capital Advisors Inc. increased its holdings in NOV by 10.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after buying an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. grew its position in NOV by 61.7% in 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 acquiring an additional 1,255,666 shares in the last quarter. Barclays PLC raised its holdings in shares of NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock valued at $7,000,000 after purchasing an additional 367,308 shares during the last quarter. Finally, Weiss Asset Management LP bought a new stake in NOV in the third quarter worth $35,709,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOV has been the topic of several recent research reports. Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Barclays boosted their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Monday, March 24th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.60.

NOV Trading Down 2.1 %

Shares of NOV opened at $14.96 on Friday. The stock’s 50-day moving average price is $15.00 and its 200 day moving average price is $15.40. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $13.78 and a 12-month high of $21.20. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 1.02 and a beta of 1.66.

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

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s payout ratio is 18.63%.

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.