Artisan Partners Limited Partnership Boosts Stake in NOV Inc. (NYSE:NOV)

Artisan Partners Limited Partnership lifted its holdings in shares of NOV Inc. (NYSE:NOV) by 0.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,478,408 shares of the oil and gas exploration company’s stock after purchasing an additional 1,800 shares during the quarter. Artisan Partners Limited Partnership owned about 0.89% of NOV worth $50,785,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOV. Harbor Capital Advisors Inc. boosted its position in shares of NOV by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after buying an additional 56,665 shares during the period. Greenhaven Associates Inc. boosted its holdings in NOV by 61.7% during the 4th 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 acquiring an additional 1,255,666 shares during the period. Barclays PLC grew its position in NOV by 120.1% in 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. Bank of Montreal Can increased its stake in NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after purchasing an additional 367,308 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of NOV in the third quarter valued at approximately $35,709,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Monday, March 24th. Barclays lifted their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Finally, Piper Sandler lifted their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.60.

NOV Trading Down 2.1 %

NYSE NOV opened at $14.96 on Friday. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The company has a market capitalization of $5.70 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm’s fifty day moving average price is $15.00 and its 200 day moving average price is $15.40.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. 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 company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.01%. The ex-dividend date was Friday, March 14th. NOV’s payout ratio is currently 18.63%.

NOV 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.