Neo Ivy Capital Management Makes New Investment in NOV Inc. (NYSE:NOV)

Neo Ivy Capital Management bought a new stake in NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 253,146 shares of the oil and gas exploration company's stock, valued at approximately $3,695,000. Neo Ivy Capital Management owned 0.07% of NOV at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CSS LLC IL acquired a new position in NOV in the fourth quarter valued at about $400,000. Tidal Investments LLC lifted its holdings in shares of NOV by 239.6% in the fourth quarter. Tidal Investments LLC now owns 71,995 shares of the oil and gas exploration company's stock valued at $1,051,000 after purchasing an additional 50,795 shares in the last quarter. Teza Capital Management LLC bought a new stake in shares of NOV in the fourth quarter valued at about $151,000. State of Wyoming lifted its holdings in shares of NOV by 79.6% in the fourth quarter. State of Wyoming now owns 12,563 shares of the oil and gas exploration company's stock valued at $183,000 after purchasing an additional 5,568 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after purchasing an additional 1,042 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Performance

Shares of NOV stock traded up $0.17 on Tuesday, hitting $12.31. The stock had a trading volume of 3,480,799 shares, compared to its average volume of 3,965,037. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 7.65, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The business's 50 day moving average is $12.84 and its two-hundred day moving average is $14.33.

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

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 yield of 2.44%. The ex-dividend date of this dividend is Friday, June 13th. NOV's dividend payout ratio is currently 20.00%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Royal Bank of Canada cut their price target 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 cut their price target on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Barclays cut their price target on NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus dropped their target price on NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group dropped their target price on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Three equities research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.