AQR Capital Management LLC Purchases 1,748,816 Shares of NOV Inc. (NYSE:NOV)

AQR Capital Management LLC raised its stake in NOV Inc. (NYSE:NOV - Free Report) by 85.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,784,096 shares of the oil and gas exploration company's stock after purchasing an additional 1,748,816 shares during the period. AQR Capital Management LLC owned approximately 0.97% of NOV worth $55,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NOV. Harbor Capital Advisors Inc. raised its holdings in shares of NOV by 10.8% in the 4th 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 in the last quarter. Greenhaven Associates Inc. boosted 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 valued at $48,049,000 after buying an additional 1,255,666 shares in the last quarter. Barclays PLC increased its holdings in shares of NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock worth $271,000 after acquiring an additional 1,656 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in NOV by 5.6% in the fourth quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company's stock worth $5,798,000 after purchasing an additional 20,952 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Stock Performance

NYSE:NOV traded down $0.15 on Wednesday, hitting $11.75. The company's stock had a trading volume of 483,235 shares, compared to its average volume of 3,902,803. NOV Inc. has a one year low of $10.84 and a one year high of $21.20. The firm has a market capitalization of $4.41 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The stock has a fifty day moving average of $13.38 and a two-hundred day moving average of $14.64. 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 - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS 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 analyst estimates 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 in the prior year, the firm earned $0.30 earnings per share. Research analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced 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 2.55%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio is currently 20.00%.

Analysts Set New Price Targets

NOV has been the topic of several analyst reports. Susquehanna cut 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. Barclays decreased their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Piper Sandler cut their target price on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Evercore ISI restated 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, JPMorgan Chase & Co. cut their price target on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $18.00.

About NOV

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.