Millennium Management LLC Has $25.46 Million Holdings in NOV Inc. (NYSE:NOV)

Millennium Management LLC raised its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 181.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,743,550 shares of the oil and gas exploration company's stock after purchasing an additional 1,123,431 shares during the quarter. Millennium Management LLC owned approximately 0.45% of NOV worth $25,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOV. Huntington National Bank boosted its holdings in shares of NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after buying an additional 1,034 shares in the last quarter. Covestor Ltd boosted its holdings in shares of NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after buying an additional 1,655 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after buying an additional 1,612 shares in the last quarter. Signaturefd LLC boosted 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 in the last quarter. Finally, CoreFirst Bank & Trust bought a new position in shares of NOV during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOV. Piper Sandler cut their price target on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Raymond James increased their price target on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley lowered their target price on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. lowered their target price on NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group lowered their target price on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, NOV has an average rating of "Hold" and an average target price of $17.50.

NOV Trading Down 2.2%

NYSE NOV opened at $12.56 on Tuesday. The firm has a market capitalization of $4.72 billion, a P/E ratio of 7.80, a PEG ratio of 1.02 and a beta of 1.27. The business has a fifty day simple moving average of $13.06 and a 200 day simple moving average of $14.47. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV - Get Free Report) last released its quarterly 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 analysts' expectations of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.30 earnings per share. On average, analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio is presently 20.00%.

NOV Company 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.

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