NOV Inc. (NYSE:NOV) Shares Bought by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC increased its stake in NOV Inc. by 34.3%, holding 353,600 shares valued at approximately $5.38 million as of the latest SEC filing.
• During the first quarter, several hedge funds, including Commonwealth Equity Services and LPL Financial, also made significant increases in their holdings in NOV, contributing to institutional investors owning 93.27% of the company's stock.
• NOV posted quarterly earnings of $0.29 per share, missing consensus estimates, alongside a revenue of $2.19 billion, which was down 1.3% year-over-year.

New Age Alpha Advisors LLC grew its stake in NOV Inc. (NYSE:NOV - Free Report) by 34.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 353,600 shares of the oil and gas exploration company's stock after acquiring an additional 90,401 shares during the quarter. New Age Alpha Advisors LLC owned 0.09% of NOV worth $5,382,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NOV. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of NOV during the first quarter valued at $36,000. Exchange Traded Concepts LLC increased its stake in shares of NOV by 382.9% in the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock worth $277,000 after purchasing an additional 14,432 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of NOV by 172.9% in the first quarter. GAMMA Investing LLC now owns 4,320 shares of the oil and gas exploration company's stock valued at $66,000 after acquiring an additional 2,737 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in NOV by 15.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 669,077 shares of the oil and gas exploration company's stock valued at $10,183,000 after buying an additional 87,909 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in NOV by 66.7% in the 1st quarter. UMB Bank n.a. now owns 3,895 shares of the oil and gas exploration company's stock valued at $59,000 after acquiring an additional 1,558 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

NOV Price Performance

Shares of NOV stock remained flat at $11.90 during mid-day trading on Friday. 2,657,003 shares of the stock traded hands, compared to its average volume of 4,231,882. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $18.40. The company has a market cap of $4.42 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 3.27 and a beta of 1.32. The firm's 50-day simple moving average is $13.02 and its 200-day simple moving average is $13.48. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26.

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

NOV Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were paid a $0.21 dividend. This represents a dividend yield of 363.0%. The ex-dividend date was Monday, June 2nd. NOV's dividend payout ratio (DPR) is presently 24.59%.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of research reports. Wells Fargo & Company lowered their target price on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research report on Thursday, June 5th. Morgan Stanley lowered their price target on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and dropped their price target for the stock from $17.00 to $15.00 in a research note on Wednesday, July 30th. Piper Sandler reduced their target price on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays decreased their price target on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $16.69.

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.