Tidal Investments LLC Boosts Stake in NOV Inc. (NYSE:NOV)

Tidal Investments LLC lifted its position in NOV Inc. (NYSE:NOV - Free Report) by 239.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,995 shares of the oil and gas exploration company's stock after buying an additional 50,795 shares during the period. Tidal Investments LLC's holdings in NOV were worth $1,051,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teza Capital Management LLC bought a new position in NOV during the fourth quarter valued at approximately $151,000. State of Wyoming increased its holdings in NOV by 79.6% during the fourth quarter. State of Wyoming now owns 12,563 shares of the oil and gas exploration company's stock valued at $183,000 after buying an additional 5,568 shares during the last quarter. ProShare Advisors LLC increased its holdings in NOV by 6.1% during the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company's stock valued at $266,000 after buying an additional 1,042 shares during the last quarter. Quantinno Capital Management LP increased its holdings in NOV by 11.5% during the fourth quarter. Quantinno Capital Management LP now owns 23,132 shares of the oil and gas exploration company's stock valued at $338,000 after buying an additional 2,380 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in NOV during the fourth quarter valued at approximately $754,000. Institutional investors own 93.27% of the company's stock.

NOV Stock Performance

NOV traded down $0.12 during trading on Wednesday, reaching $12.19. 2,822,705 shares of the company's stock were exchanged, compared to its average volume of 3,960,486. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The stock has a market capitalization of $4.58 billion, a P/E ratio of 7.57, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The company's fifty day simple moving average is $12.78 and its 200-day simple moving average is $14.32. 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 released its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion for the quarter, compared to analysts' expectations of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. NOV's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.30 EPS. As a group, research analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.30 annualized dividend and a dividend yield of 2.46%. NOV's payout ratio is 20.00%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. The Goldman Sachs Group reduced their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a report on Thursday, April 10th. Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Wells Fargo & Company boosted their price target on NOV from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Barclays cut their target price 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 issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $17.50.

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.