Harbor Capital Advisors Inc. Buys 96,082 Shares of NOV Inc. (NYSE:NOV)

Harbor Capital Advisors Inc. grew its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 16.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 677,528 shares of the oil and gas exploration company's stock after purchasing an additional 96,082 shares during the period. Harbor Capital Advisors Inc. owned 0.18% of NOV worth $10,312,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NOV. Huntington National Bank lifted its position in shares of NOV by 88.7% during the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd increased its stake in shares of NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after purchasing an additional 1,655 shares during the period. Signaturefd LLC boosted its position in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after acquiring an additional 756 shares during the period. CoreFirst Bank & Trust bought a new position in shares of NOV in the fourth quarter valued at approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of NOV during the 4th quarter valued at $42,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on NOV shares. The Goldman Sachs Group reduced their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Piper Sandler lowered their target price on shares of NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company cut their price objective on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, June 5th. Barclays lowered their price target on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their price objective on NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Three equities 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. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.44.

NOV Price Performance

NOV stock traded up $0.28 during trading hours on Friday, reaching $13.66. 3,744,067 shares of the stock were exchanged, compared to its average volume of 4,002,822. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The stock has a 50 day moving average of $12.37 and a two-hundred day moving average of $14.01. 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 company has a market cap of $5.13 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business earned $0.30 earnings per share. NOV's revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a dividend yield of 3.63%. NOV's payout ratio is currently 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.