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

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

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mariner LLC increased its position in shares of NOV by 2.9% in the fourth quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 672 shares in the last quarter. Signaturefd LLC lifted its holdings in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 756 shares during the last quarter. Huntington National Bank boosted its holdings in 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 valued at $32,000 after acquiring an additional 1,034 shares during the period. ProShare Advisors LLC increased its position in NOV by 6.1% during the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock worth $266,000 after acquiring an additional 1,042 shares during the period. Finally, Coppell Advisory Solutions LLC raised its position in shares of NOV by 20.1% during the fourth quarter. Coppell Advisory Solutions LLC now owns 7,317 shares of the oil and gas exploration company's stock valued at $106,000 after buying an additional 1,225 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the subject of a number of recent research reports. The Goldman Sachs Group dropped 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. JPMorgan Chase & Co. decreased their price target 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. Royal Bank of Canada cut their target price 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. Wells Fargo & Company decreased their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a report on Thursday, June 5th. Finally, Piper Sandler reduced their price objective 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 given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, NOV has a consensus rating of "Hold" and a consensus target price of $17.44.

NOV Price Performance

Shares of NYSE NOV traded up $0.02 during midday trading on Thursday, reaching $13.39. The company's stock had a trading volume of 1,747,455 shares, compared to its average volume of 3,998,055. The company has a market cap of $5.03 billion, a P/E ratio of 8.32, a P/E/G ratio of 1.02 and a beta of 1.28. The business's 50 day moving average price is $12.29 and its two-hundred day moving average price is $14.05. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results 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 company 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 firm's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.30 EPS. On average, analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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