National Bank of Canada FI Purchases Shares of 731,400 NOV Inc. (NYSE:NOV)

National Bank of Canada FI acquired a new position in NOV Inc. (NYSE:NOV) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 731,400 shares of the oil and gas exploration company’s stock, valued at approximately $10,678,000. National Bank of Canada FI owned about 0.19% of NOV as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. UMB Bank n.a. boosted its holdings in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP purchased a new stake in shares of NOV during the third quarter valued at approximately $36,000. Signaturefd LLC grew its holdings in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 756 shares during the last quarter. CoreFirst Bank & Trust purchased a new position in shares of NOV in the fourth quarter worth $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new stake in NOV during the 4th quarter valued at $42,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NOV stock opened at $11.92 on Friday. NOV Inc. has a twelve month low of $11.66 and a twelve month high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.54 billion, a P/E ratio of 7.40, a PEG ratio of 1.02 and a beta of 1.34. The stock’s 50 day moving average is $14.91 and its 200 day moving average is $15.33.

NOV (NYSE:NOV) last released 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, equities research analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.52%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analyst Ratings Changes

A number of equities analysts have issued reports on NOV shares. Piper Sandler boosted their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Barclays upped 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. Finally, Royal Bank of Canada raised shares of 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.60.

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.