Gotham Asset Management LLC Raises Stock Holdings in NOV Inc. (NYSE:NOV)

Gotham Asset Management LLC grew its stake in NOV Inc. (NYSE:NOV - Free Report) by 502.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 333,941 shares of the oil and gas exploration company's stock after acquiring an additional 278,501 shares during the quarter. Gotham Asset Management LLC owned about 0.09% of NOV worth $4,876,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of NOV by 13.0% in 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 last quarter. Pacer Advisors Inc. grew 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 purchasing an additional 12,210,514 shares during the period. Geode Capital Management LLC grew its holdings in shares of NOV by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company's stock worth $97,815,000 after purchasing an additional 302,009 shares during the period. Ameriprise Financial Inc. grew 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 purchasing an additional 1,652,917 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after purchasing an additional 938,866 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Down 0.7%

Shares of NOV traded down $0.10 during midday trading on Friday, hitting $12.81. The company had a trading volume of 4,884,292 shares, compared to its average volume of 3,962,386. The company's 50-day simple moving average is $13.09 and its 200-day simple moving average is $14.50. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The firm has a market capitalization of $4.81 billion, a P/E ratio of 7.96, a P/E/G ratio of 1.02 and a beta of 1.27. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20.

NOV (NYSE:NOV - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share. As a group, sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio (DPR) is 20.00%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NOV. JPMorgan Chase & Co. lowered their price target on NOV from $20.00 to $17.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Susquehanna lowered their price target on NOV from $21.00 to $19.00 and set a "positive" rating for the company in a report on Monday, April 14th. Stifel Nicolaus lowered their price target on NOV from $25.00 to $23.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company increased 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, Royal Bank of Canada lowered their price target on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.50.

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.