Neo Ivy Capital Management Invests $3.70 Million in NOV Inc. (NYSE:NOV)

Neo Ivy Capital Management acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 253,146 shares of the oil and gas exploration company's stock, valued at approximately $3,695,000. Neo Ivy Capital Management owned approximately 0.07% of NOV as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC boosted its stake in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after purchasing an additional 258,392 shares during the period. UMB Bank n.a. boosted its position in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in NOV by 12.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 35,580 shares of the oil and gas exploration company's stock valued at $519,000 after acquiring an additional 3,940 shares in the last quarter. SG Americas Securities LLC increased its holdings in NOV by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company's stock valued at $5,798,000 after acquiring an additional 20,952 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in NOV by 57.8% in the 4th quarter. Blue Trust Inc. now owns 9,244 shares of the oil and gas exploration company's stock worth $148,000 after purchasing an additional 3,385 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Piper Sandler cut 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. Wells Fargo & Company increased their price target on NOV from $10.00 to $11.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Barclays decreased their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group lowered their target price on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Finally, Raymond James boosted their price target on shares of NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. 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's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $17.50.

NOV Trading Up 0.3%

Shares of NYSE NOV traded up $0.04 during mid-day trading on Wednesday, reaching $12.34. The company had a trading volume of 845,898 shares, compared to its average volume of 3,953,703. The stock has a market cap of $4.63 billion, a price-to-earnings ratio of 7.67, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The business's 50-day moving average is $12.78 and its 200-day moving average is $14.32. 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 posted its quarterly 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 company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business's revenue was down 2.4% on a year-over-year basis. Equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

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 2.43%. The ex-dividend date is Friday, June 13th. NOV's payout ratio is 20.00%.

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.