LSV Asset Management Increases Stock Position in NOV Inc. (NYSE:NOV)

LSV Asset Management grew its stake in NOV Inc. (NYSE:NOV - Free Report) by 26.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,508,178 shares of the oil and gas exploration company's stock after purchasing an additional 314,878 shares during the quarter. LSV Asset Management owned about 0.40% of NOV worth $22,954,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Banque Cantonale Vaudoise bought a new position in NOV during the 1st quarter worth about $25,000. Huntington National Bank grew its holdings in shares of NOV by 88.7% in the 4th 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 in the last quarter. Covestor Ltd grew its holdings 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 acquiring an additional 1,655 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of NOV in the 1st quarter valued at about $36,000. Finally, CX Institutional bought a new position in shares of NOV in the 1st quarter valued at about $42,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Susquehanna set a $17.00 price target on NOV and gave the stock a "positive" rating in a report on Wednesday, July 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 research report on Wednesday, April 30th. Piper Sandler cut their price objective on shares of NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Stifel Nicolaus cut their price objective on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Finally, Royal Bank Of Canada cut their price objective on shares of NOV from $19.00 to $18.00 and set an "outperform" rating for the company in a research report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $16.69.

NOV Price Performance

Shares of NYSE NOV traded up $0.02 during midday trading on Tuesday, reaching $12.24. 3,664,632 shares of the company were exchanged, compared to its average volume of 4,277,219. The stock's 50-day moving average price is $13.04 and its 200-day moving average price is $13.55. The stock has a market cap of $4.55 billion, a P/E ratio of 10.03, a PEG ratio of 3.26 and a beta of 1.32. NOV Inc. has a one year low of $10.84 and a one year high of $18.40. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). The company had revenue of $2.19 billion for the quarter, compared to the consensus estimate of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%. The business's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 EPS. On average, sell-side analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were given a dividend of $0.21 per share. This represents a dividend yield of 363.0%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's dividend payout ratio is currently 24.59%.

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.