MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stock Holdings in NOV Inc. (NYSE:NOV)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 45.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 119,465 shares of the oil and gas exploration company's stock after acquiring an additional 37,558 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in NOV were worth $1,744,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank grew its stake 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 valued at $32,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd boosted its stake in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 1,655 shares during the period. UMB Bank n.a. boosted its stake in NOV by 222.3% in 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 purchasing an additional 1,612 shares during the period. Signaturefd LLC boosted its stake 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 period. Finally, CoreFirst Bank & Trust bought a new position in NOV in the 4th quarter worth approximately $41,000. 93.27% of the stock is currently owned by institutional investors.

NOV Trading Down 0.2%

NOV stock traded down $0.03 during midday trading on Wednesday, reaching $12.28. The company's stock had a trading volume of 234,468 shares, compared to its average volume of 3,950,418. 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 stock has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $14.32. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 7.63, a PEG ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share 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 business had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the previous year, the business earned $0.30 EPS. The business's revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities research analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.44%. The ex-dividend date is Friday, June 13th. NOV's payout ratio is 20.00%.

Analysts Set New Price Targets

NOV has been the subject of several recent analyst reports. Piper Sandler dropped their price target on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Royal Bank of Canada decreased their price objective on NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Morgan Stanley decreased their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, JPMorgan Chase & Co. decreased their price objective on NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Three investment 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 presently has a consensus rating of "Hold" and an average price target of $17.50.

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.