Pzena Investment Management LLC Raises Holdings in NOV Inc. (NYSE:NOV)

Pzena Investment Management LLC raised its holdings in NOV Inc. (NYSE:NOV - Free Report) by 0.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,564,404 shares of the oil and gas exploration company's stock after purchasing an additional 106,011 shares during the quarter. NOV accounts for 2.2% of Pzena Investment Management LLC's holdings, making the stock its 20th largest holding. Pzena Investment Management LLC owned 10.98% of NOV worth $632,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NOV. Huntington National Bank raised its holdings in shares of NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 1,034 shares during the period. Covestor Ltd increased its holdings in NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 1,655 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in NOV during the 1st quarter worth about $36,000. Signaturefd LLC increased its holdings in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after purchasing an additional 756 shares during the period. Finally, CoreFirst Bank & Trust purchased a new stake in NOV during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NOV shares. 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. Piper Sandler lowered 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. JPMorgan Chase & Co. lowered their price objective on NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, April 30th. Morgan Stanley lowered their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, Susquehanna lowered their price objective on NOV from $19.00 to $18.00 and set a "positive" rating for the company in a research report on Tuesday, July 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, NOV has a consensus rating of "Hold" and a consensus price target of $17.31.

NOV Stock Performance

NOV traded down $0.05 on Friday, hitting $12.90. 3,696,184 shares of the company traded hands, compared to its average volume of 4,145,669. The company has a 50 day moving average of $12.92 and a 200-day moving average of $13.71. The company has a quick ratio of 1.76, a current ratio of 2.65 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $4.85 billion, a PE ratio of 8.60, a PEG ratio of 3.24 and a beta of 1.28. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings data 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). The company had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.11 billion. NOV had a net margin of 6.68% and a return on equity of 9.11%. The firm's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. Sell-side analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were paid a dividend of $0.21 per share. This represents a yield of 3.63%. The ex-dividend date of this dividend was Monday, June 2nd. NOV's dividend payout ratio is presently 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.