Greenhaven Associates Inc. Purchases 823,115 Shares of NOV Inc. (NYSE:NOV)

Greenhaven Associates Inc. lifted its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 25.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,114,157 shares of the oil and gas exploration company's stock after acquiring an additional 823,115 shares during the quarter. NOV makes up about 1.0% of Greenhaven Associates Inc.'s portfolio, making the stock its 13th biggest holding. Greenhaven Associates Inc. owned 1.08% of NOV worth $62,617,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock worth $245,178,000 after purchasing an additional 1,934,243 shares during the period. Geode Capital Management LLC increased its position in NOV by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock worth $97,815,000 after buying an additional 302,009 shares during the period. Ameriprise Financial Inc. increased its position in NOV by 40.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock worth $83,489,000 after buying an additional 1,652,917 shares during the period. Van ECK Associates Corp lifted its holdings in shares of NOV by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after buying an additional 938,866 shares in the last quarter. Finally, Earnest Partners LLC boosted its position in shares of NOV by 0.5% in the fourth quarter. Earnest Partners LLC now owns 3,883,015 shares of the oil and gas exploration company's stock valued at $56,692,000 after acquiring an additional 17,871 shares during the period. Institutional investors own 93.27% of the company's stock.

Wall Street Analyst Weigh In

NOV has been the topic of a number of recent research reports. Royal Bank of Canada lowered their price target on shares of NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 30th. Morgan Stanley lowered their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Raymond James boosted their price target on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Barclays lowered their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Piper Sandler cut their target price on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $17.50.

NOV Price Performance

NOV stock traded down $0.28 during midday trading on Friday, reaching $12.00. The company's stock had a trading volume of 4,791,350 shares, compared to its average volume of 3,979,837. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.51 billion, a PE ratio of 7.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The business has a 50-day moving average price of $12.61 and a 200-day moving average price of $14.24.

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 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 analyst estimates of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.30 earnings per share. On average, sell-side analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, June 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.50%. NOV's payout ratio is presently 20.00%.

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.