Edmond DE Rothschild Holding S.A. Cuts Position in NOV Inc. (NYSE:NOV)

Edmond DE Rothschild Holding S.A. decreased its position in shares of NOV Inc. (NYSE:NOV) by 12.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,440,000 shares of the oil and gas exploration company’s stock after selling 200,000 shares during the period. Edmond DE Rothschild Holding S.A. owned approximately 0.37% of NOV worth $21,024,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in shares of NOV by 12,344.0% during the 4th 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. Hotchkis & Wiley Capital Management LLC grew 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 valued at $593,336,000 after acquiring an additional 6,963,660 shares during the last quarter. First Pacific Advisors LP purchased a new position in shares of NOV during the fourth quarter worth approximately $39,495,000. Weiss Asset Management LP bought a new stake in shares of NOV in the 3rd quarter worth approximately $35,709,000. Finally, Greenhaven Associates Inc. boosted its stake in shares of NOV by 61.7% in 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 in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NOV stock opened at $14.96 on Monday. The firm has a 50-day moving average of $15.00 and a 200 day moving average of $15.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The company has a market cap of $5.70 billion, a P/E ratio of 9.29, a PEG ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 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%. On average, sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. 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 dividend payout ratio is presently 18.63%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler lifted their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays boosted their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James increased 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. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Two equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

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.