Nuveen Asset Management LLC Decreases Stake in NOV Inc. (NYSE:NOV)

Nuveen Asset Management LLC lessened its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 3.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 2,377,376 shares of the oil and gas exploration company's stock after selling 72,431 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.61% of NOV worth $34,710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company's stock worth $179,718,000 after buying an additional 12,210,514 shares in the last quarter. First Pacific Advisors LP bought a new position in shares of NOV during the 4th quarter worth approximately $39,495,000. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of 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 buying an additional 1,748,816 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of 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 buying an additional 1,652,917 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NOV. Piper Sandler cut their target price on NOV from $18.00 to $16.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Susquehanna cut their target price on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Raymond James increased their target price on NOV from $18.00 to $19.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Morgan Stanley cut their target price on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Wells Fargo & Company increased their target price on NOV from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Three 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $17.50.

NOV Stock Performance

Shares of NOV stock traded down $0.03 during trading hours on Friday, hitting $12.15. 2,462,323 shares of the company's stock traded hands, compared to its average volume of 3,957,940. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The stock has a market capitalization of $4.56 billion, a price-to-earnings ratio of 7.54, a PEG ratio of 1.02 and a beta of 1.27. The company has a fifty day simple moving average of $12.89 and a 200-day simple moving average of $14.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

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

NOV Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, June 13th. NOV's dividend payout ratio is presently 20.00%.

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.