Northern Trust Corp Has $53.81 Million Position in NOV Inc. (NYSE:NOV)

Northern Trust Corp raised its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 27.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,685,547 shares of the oil and gas exploration company's stock after acquiring an additional 790,010 shares during the quarter. Northern Trust Corp owned approximately 0.95% of NOV worth $53,809,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of NOV. Barclays PLC grew its stake 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 valued at $7,561,000 after acquiring an additional 258,392 shares in the last quarter. Tidal Investments LLC grew its stake in NOV by 20.8% during the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company's stock valued at $339,000 after acquiring an additional 3,645 shares in the last quarter. Nordea Investment Management AB purchased a new position in NOV during the 4th quarter valued at about $2,514,000. 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 valued at $271,000 after acquiring an additional 1,656 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company's stock valued at $8,489,000 after buying an additional 56,665 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on NOV shares. The Goldman Sachs Group lowered their price target on NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. JPMorgan Chase & Co. cut their price target on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Stifel Nicolaus cut their price target on shares of NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Raymond James raised their price target on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Piper Sandler decreased their target price on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $18.00.

NOV Stock Performance

Shares of NYSE:NOV traded up $0.08 on Tuesday, hitting $13.02. 909,252 shares of the company were exchanged, compared to its average volume of 3,926,783. The company's 50 day moving average price is $13.22 and its two-hundred day moving average price is $14.55. NOV Inc. has a one year low of $10.84 and a one year high of $21.20. 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 $4.89 billion, a price-to-earnings ratio of 8.09, a PEG ratio of 1.02 and a beta of 1.27.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.30%. NOV's dividend payout ratio (DPR) is currently 20.00%.

NOV Company 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.