Mercer Global Advisors Inc. ADV Acquires Shares of 24,998 NOV Inc. (NYSE:NOV)

Mercer Global Advisors Inc. ADV bought a new position in shares of NOV Inc. (NYSE:NOV - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,998 shares of the oil and gas exploration company's stock, valued at approximately $365,000.

Other institutional investors have also modified their holdings of the company. Greenhaven Associates Inc. lifted its holdings in shares of NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company's stock valued at $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. Barclays PLC lifted its holdings in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after buying an additional 258,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in NOV by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock worth $271,000 after buying an additional 1,656 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of NOV by 5.6% in the fourth quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company's stock worth $5,798,000 after purchasing an additional 20,952 shares in the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of NOV in the fourth quarter valued at $6,330,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOV has been the subject of a number of research analyst reports. Susquehanna reduced their price target on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Morgan Stanley cut their price target on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday. The Goldman Sachs Group lowered their target price on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company increased their target price on shares of NOV from $10.00 to $11.00 and gave the stock an "underweight" rating in a report on Thursday, May 1st. Finally, Raymond James boosted 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. Three investment 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $17.50.

NOV Stock Performance

NOV traded up $0.04 during midday trading on Tuesday, reaching $12.61. The company had a trading volume of 223,582 shares, compared to its average volume of 3,942,562. 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 business has a 50-day moving average price of $13.06 and a two-hundred day moving average price of $14.47. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The stock has a market cap of $4.74 billion, a PE ratio of 7.82, a P/E/G ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter last year, the business posted $0.30 earnings per share. NOV's revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.38%. NOV's payout ratio is 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.