Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NOV Inc. (NYSE:NOV - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 339,710 shares of the oil and gas exploration company's stock, valued at approximately $4,960,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.09% of NOV at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Huntington National Bank grew its stake in 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 worth $32,000 after acquiring an additional 1,034 shares during the period. Covestor Ltd grew its stake in shares of NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after buying an additional 1,655 shares during the period. Signaturefd LLC grew its stake in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after buying an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of NOV during the 4th quarter valued at $42,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of NOV during the 4th quarter valued at $41,000. 93.27% of the stock is owned by hedge funds and other institutional investors.
NOV Stock Up 0.2%
Shares of NOV traded up $0.03 during midday trading on Thursday, hitting $12.28. The company had a trading volume of 2,941,286 shares, compared to its average volume of 3,985,996. The company's 50 day moving average price is $12.37 and its 200 day moving average price is $14.14. The stock has a market cap of $4.61 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 1.02 and a beta of 1.27. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.
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 for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. NOV's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. On average, equities research analysts predict that NOV Inc. will post 1.4 EPS for the current year.
NOV Announces Dividend
The company also recently announced a dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be given a $0.21 dividend. This represents a yield of 3.63%. The ex-dividend date of this dividend is Monday, June 2nd. NOV's dividend payout ratio (DPR) is 20.00%.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on NOV shares. Wells Fargo & Company lowered their price objective on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday. Raymond James boosted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Susquehanna lowered their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday, April 14th. The Goldman Sachs Group reduced their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley reduced their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $17.44.
View Our Latest Research Report on NOV
NOV Profile
(
Free Report)
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.
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