Greenhaven Associates Inc. Grows Stock Holdings in NOV Inc. (NYSE:NOV)

Greenhaven Associates Inc. increased its stake in NOV Inc. (NYSE:NOV - Free Report) by 25.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,114,157 shares of the oil and gas exploration company's stock after acquiring an additional 823,115 shares during the period. NOV comprises about 1.0% of Greenhaven Associates Inc.'s holdings, making the stock its 13th largest holding. Greenhaven Associates Inc. owned approximately 1.08% of NOV worth $62,617,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in NOV. Dimensional Fund Advisors LP boosted its holdings in shares of NOV by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after buying an additional 1,934,243 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $97,815,000 after purchasing an additional 302,009 shares during the last quarter. Ameriprise Financial Inc. boosted its stake 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 valued at $83,489,000 after purchasing an additional 1,652,917 shares during the last quarter. Van ECK Associates Corp boosted its stake in NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock valued at $75,658,000 after purchasing an additional 938,866 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in NOV by 0.5% during the 4th 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 purchasing an additional 17,871 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of NOV from $10.00 to $11.00 and gave the stock an "underweight" rating 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. Barclays cut their price objective on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Royal Bank of Canada reduced 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. Finally, Susquehanna reduced their price target on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. 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 stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $17.50.

NOV Stock Up 1.5%

NYSE:NOV traded up $0.18 during mid-day trading on Monday, reaching $11.97. The company's stock had a trading volume of 957,621 shares, compared to its average volume of 3,967,120. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The stock has a fifty day moving average of $12.61 and a 200-day moving average of $14.22. The firm has a market capitalization of $4.50 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

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

NOV Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Friday, June 13th. Investors of record on Tuesday, June 3rd will be paid a $0.21 dividend. This represents a yield of 3.63%. The ex-dividend date of this dividend is Monday, June 2nd. NOV's dividend payout ratio (DPR) is 20.00%.

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.