Ameriprise Financial Inc. Raises Stock Holdings in NOV Inc. (NYSE:NOV)

Ameriprise Financial Inc. increased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 40.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,718,408 shares of the oil and gas exploration company's stock after purchasing an additional 1,652,917 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.47% of NOV worth $83,489,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC boosted its holdings in shares of NOV by 120.1% in 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 buying an additional 258,392 shares in the last quarter. Tidal Investments LLC boosted its position in shares of NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company's stock worth $339,000 after purchasing an additional 3,645 shares in the last quarter. Nordea Investment Management AB purchased a new position in NOV during the 4th quarter worth $2,514,000. Wealth Enhancement Advisory Services LLC increased its position in NOV by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock valued at $271,000 after buying an additional 1,656 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake 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 valued at $8,489,000 after buying an additional 56,665 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Price Performance

NOV traded up $0.08 on Friday, reaching $12.50. 3,959,755 shares of the company's stock were exchanged, compared to its average volume of 3,943,411. The stock has a market cap of $4.70 billion, a PE ratio of 7.76, a P/E/G ratio of 1.02 and a beta of 1.27. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The stock's fifty day moving average price is $13.25 and its 200-day moving average price is $14.57.

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

NOV Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.40%. NOV's payout ratio is 20.00%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NOV shares. Piper Sandler dropped their price target on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. decreased their price target on shares of NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Susquehanna dropped their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Royal Bank of Canada reduced their target price on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Raymond James upped 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. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target 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.