First Pacific Advisors LP Raises Holdings in NOV Inc. (NYSE:NOV)

First Pacific Advisors LP increased its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,492,196 shares of the oil and gas exploration company's stock after buying an additional 787,068 shares during the quarter. First Pacific Advisors LP owned 0.93% of NOV worth $53,151,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in NOV by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock worth $245,178,000 after acquiring an additional 1,934,243 shares during the period. AQR Capital Management LLC lifted its position in NOV by 85.9% during the 4th quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company's stock worth $55,248,000 after acquiring an additional 1,748,816 shares during the period. Ameriprise Financial Inc. lifted its position in NOV by 40.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock worth $83,489,000 after acquiring an additional 1,652,917 shares during the period. D. E. Shaw & Co. Inc. lifted its position in NOV by 187.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company's stock worth $30,248,000 after acquiring an additional 1,351,441 shares during the period. Finally, Millennium Management LLC lifted its position in NOV by 181.2% during the 4th quarter. Millennium Management LLC now owns 1,743,550 shares of the oil and gas exploration company's stock worth $25,456,000 after acquiring an additional 1,123,431 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Trading Up 1.9%

NOV stock traded up $0.26 during mid-day trading on Friday, hitting $13.97. The company's stock had a trading volume of 5,281,654 shares, compared to its average volume of 3,851,605. The firm has a market capitalization of $5.25 billion, a PE ratio of 9.31, a price-to-earnings-growth ratio of 3.49 and a beta of 1.28. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average is $12.97 and its two-hundred day moving average is $13.66.

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 the consensus estimate of $0.25 by ($0.06). NOV had a return on equity of 9.11% and a net margin of 6.68%. The firm had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.11 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

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 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

NOV has been the subject of several analyst reports. Susquehanna decreased their price objective on NOV from $19.00 to $18.00 and set a "positive" rating for the company in a report on Tuesday, July 1st. Barclays decreased their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating for the company 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 for the company in a report on Friday, May 16th. Stifel Nicolaus decreased their price objective on NOV from $23.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group decreased their price objective on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $17.31.

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.