Algert Global LLC Has $4.70 Million Holdings in NOV Inc. (NYSE:NOV)

Algert Global LLC boosted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 21.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 321,810 shares of the oil and gas exploration company's stock after buying an additional 55,796 shares during the period. Algert Global LLC owned approximately 0.08% of NOV worth $4,698,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Mariner LLC boosted its position in shares of NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 672 shares in the last quarter. Signaturefd LLC increased its stake 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 valued at $38,000 after purchasing an additional 756 shares during the last quarter. Huntington National Bank raised its holdings in shares of NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 1,034 shares in the last quarter. Coppell Advisory Solutions LLC lifted its position in shares of NOV by 20.1% during the 4th quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock worth $106,000 after buying an additional 1,225 shares during the last quarter. Finally, Verum Partners LLC boosted its stake in NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock valued at $220,000 after buying an additional 1,248 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Trading Down 3.1 %

Shares of NOV stock opened at $11.88 on Tuesday. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a 50 day simple moving average of $13.44 and a two-hundred day simple moving average of $14.66. The company has a market cap of $4.46 billion, a P/E ratio of 7.38, a PEG ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The business's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. Research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.53%. NOV's dividend payout ratio (DPR) is presently 20.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NOV. Stifel Nicolaus dropped their target price on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Piper Sandler dropped their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their target price on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Evercore ISI reiterated an "in-line" rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Susquehanna reduced their price objective on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $18.00.

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.

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