NOV Inc. (NYSE:NOV) Position Boosted by Gabelli Funds LLC

Gabelli Funds LLC raised its holdings in shares of NOV Inc. (NYSE:NOV) by 8.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,000 shares of the oil and gas exploration company’s stock after acquiring an additional 4,000 shares during the period. Gabelli Funds LLC’s holdings in NOV were worth $788,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Jump Financial LLC raised its stake in shares of NOV by 652.6% during the fourth quarter. Jump Financial LLC now owns 198,471 shares of the oil and gas exploration company’s stock valued at $2,898,000 after purchasing an additional 172,101 shares in the last quarter. Guggenheim Capital LLC raised its position in shares of NOV by 30.2% during the 4th quarter. Guggenheim Capital LLC now owns 61,403 shares of the oil and gas exploration company’s stock worth $896,000 after buying an additional 14,235 shares in the last quarter. Mariner LLC lifted its stake in shares of NOV by 2.9% in the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company’s stock worth $353,000 after acquiring an additional 672 shares during the period. Barclays PLC boosted its holdings in shares of NOV by 3.6% in the fourth quarter. Barclays PLC now owns 490,580 shares of the oil and gas exploration company’s stock valued at $7,161,000 after acquiring an additional 17,035 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in shares of NOV by 56.7% during the fourth quarter. Sterling Capital Management LLC now owns 23,527 shares of the oil and gas exploration company’s stock valued at $343,000 after acquiring an additional 8,515 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NOV. The Goldman Sachs Group cut their target price on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a research report on Thursday, April 10th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Barclays lifted their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Stifel Nicolaus cut their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Finally, Piper Sandler lifted their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.00.

NOV Trading Up 3.9 %

NOV stock opened at $12.52 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The company’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $14.98. The stock has a market cap of $4.74 billion, a P/E ratio of 7.77, a P/E/G ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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%. As a group, sell-side analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid 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 2.40%. NOV’s dividend payout ratio (DPR) is 18.63%.

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.