SIR Capital Management L.P. Has $2.42 Million Stake in NOV Inc. (NYSE:NOV)

SIR Capital Management L.P. decreased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 88.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 165,467 shares of the oil and gas exploration company's stock after selling 1,280,919 shares during the period. SIR Capital Management L.P.'s holdings in NOV were worth $2,416,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOV. Pacer Advisors Inc. lifted its position in 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 buying an additional 12,210,514 shares in the last quarter. First Pacific Advisors LP acquired a new position in NOV during the 4th quarter worth about $39,495,000. Dimensional Fund Advisors LP lifted its position in NOV by 13.0% during 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 buying an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC lifted its position in NOV by 85.9% during the 4th quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company's stock worth $55,248,000 after buying an additional 1,748,816 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in 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 buying an additional 1,652,917 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Price Performance

NOV stock traded down $0.28 during midday trading on Monday, reaching $12.56. The company's stock had a trading volume of 2,586,969 shares, compared to its average volume of 3,957,079. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $13.06 and a 200-day moving average price of $14.47. The stock has a market cap of $4.72 billion, a PE ratio of 7.80, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV - Get Free Report) last released its quarterly 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 firm had revenue of $2.10 billion for 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%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 earnings per share. On average, sell-side analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio is currently 20.00%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Raymond James upped their target price on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of NOV from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Morgan Stanley cut their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut their target price on shares of NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Barclays cut their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. 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, NOV has an average rating of "Hold" and an average price target of $17.50.

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.