29,084 Shares in NOV Inc. (NYSE:NOV) Purchased by Vestcor Inc

Vestcor Inc bought a new stake in shares of NOV Inc. (NYSE:NOV) in the fourth quarter, Holdings Channel reports. The fund bought 29,084 shares of the oil and gas exploration company’s stock, valued at approximately $425,000.

Several other hedge funds and other institutional investors have also made changes to their positions in NOV. GSA Capital Partners LLP lifted its stake in shares of NOV by 63.1% in the third quarter. GSA Capital Partners LLP now owns 46,808 shares of the oil and gas exploration company’s stock worth $748,000 after buying an additional 18,102 shares in the last quarter. Victory Capital Management Inc. raised its holdings in NOV by 32.2% in the 3rd quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company’s stock valued at $1,756,000 after acquiring an additional 26,792 shares during the last quarter. KBC Group NV lifted its stake in NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after purchasing an additional 1,163 shares in the last quarter. Quest Partners LLC acquired a new position in shares of NOV during the 3rd quarter worth approximately $96,000. Finally, Pzena Investment Management LLC grew its position in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Up 2.1 %

Shares of NYSE NOV opened at $14.61 on Tuesday. The stock has a fifty day simple moving average of $14.97 and a 200-day simple moving average of $15.49. NOV Inc. has a twelve month low of $13.78 and a twelve month 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 stock has a market capitalization of $5.56 billion, a PE ratio of 9.07, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.05%. NOV’s dividend payout ratio is presently 18.63%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James boosted their price target 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. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Finally, Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NOV has a consensus rating of “Hold” and a consensus price target of $19.60.

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.