Jefferies Financial Group Inc. Takes Position in NOV Inc. (NYSE:NOV)

Jefferies Financial Group Inc. bought a new position in NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 52,221 shares of the oil and gas exploration company's stock, valued at approximately $762,000.

Several other institutional investors have also modified their holdings of NOV. Huntington National Bank grew its holdings in shares of NOV by 88.7% in 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 purchasing an additional 1,034 shares during the period. Covestor Ltd grew its stake in shares of NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after buying an additional 1,655 shares during the period. Signaturefd LLC increased its holdings in shares of 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 buying an additional 756 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of NOV during the 4th quarter worth approximately $42,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of NOV during the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Stock Up 3.9%

NOV stock traded up $0.47 during mid-day trading on Tuesday, reaching $12.43. The company had a trading volume of 3,375,093 shares, compared to its average volume of 3,980,765. The firm has a fifty day simple moving average of $12.48 and a 200 day simple moving average of $14.17. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The company has a market capitalization of $4.67 billion, a price-to-earnings ratio of 7.72, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20.

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

NOV Announces Dividend

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

Analyst Ratings Changes

NOV has been the subject of several analyst reports. Piper Sandler lowered 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. Susquehanna decreased their price target on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada cut their price objective on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. JPMorgan Chase & Co. reduced their price objective on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered their target price 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. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $17.50.

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.