NOV Inc. (NYSE:NOV) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp grew its holdings in NOV Inc. (NYSE:NOV) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,687,556 shares of the oil and gas exploration company’s stock after acquiring an additional 231,464 shares during the period. Van ECK Associates Corp owned about 1.44% of NOV worth $115,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Retirement Systems of Alabama raised its stake in shares of NOV by 6.8% during the 4th quarter. Retirement Systems of Alabama now owns 923,174 shares of the oil and gas exploration company’s stock valued at $18,722,000 after buying an additional 58,700 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of NOV during the 4th quarter worth approximately $61,000. CWM LLC increased its holdings in shares of NOV by 10.8% during the 4th quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 536 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NOV by 11.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,331 shares of the oil and gas exploration company’s stock valued at $1,670,000 after purchasing an additional 8,591 shares during the period. Finally, Mackenzie Financial Corp grew its position in NOV by 1.4% during the fourth quarter. Mackenzie Financial Corp now owns 154,285 shares of the oil and gas exploration company’s stock valued at $3,129,000 after buying an additional 2,079 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Buying and Selling

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of NOV stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the transaction, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NOV shares. Piper Sandler reduced their target price on NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, February 20th. Benchmark cut shares of NOV from a “buy” rating to a “hold” rating in a research note on Tuesday, January 16th. StockNews.com upgraded NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Raymond James reduced their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research report on Monday, February 5th. Finally, Stifel Nicolaus dropped their target price on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average price target of $24.07.

NOV Stock Down 1.9 %

Shares of NYSE NOV traded down $0.37 during midday trading on Tuesday, hitting $18.98. 631,866 shares of the company’s stock were exchanged, compared to its average volume of 4,333,625. The firm’s fifty day simple moving average is $18.64 and its 200-day simple moving average is $19.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. The company has a market cap of $7.51 billion, a PE ratio of 7.77, a P/E/G ratio of 0.82 and a beta of 1.74. NOV Inc. has a twelve month low of $14.05 and a twelve month high of $21.91.

NOV (NYSE:NOV) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.32 earnings per share. Research analysts predict that NOV Inc. will post 1.52 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.05 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.05%. NOV’s dividend payout ratio (DPR) is 8.03%.

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.