Sterling Capital Management LLC Grows Stake in NOV Inc. (NYSE:NOV)

Sterling Capital Management LLC increased its stake in NOV Inc. (NYSE:NOV) by 56.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,527 shares of the oil and gas exploration company’s stock after buying an additional 8,515 shares during the quarter. Sterling Capital Management LLC’s holdings in NOV were worth $343,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Signaturefd LLC increased its stake in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares during the period. Huntington National Bank lifted its holdings in NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 1,034 shares during the last quarter. Verum Partners LLC boosted its stake in NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after acquiring an additional 1,248 shares during the period. UMB Bank n.a. grew its holdings in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after purchasing an additional 1,655 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NOV. Susquehanna lowered their price objective on NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Barclays increased their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Piper Sandler boosted their target price on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Stifel Nicolaus dropped their price target on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.00.

NOV Price Performance

Shares of NOV stock opened at $12.52 on Friday. NOV Inc. has a 52 week low of $10.84 and a 52 week 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 company’s 50-day moving average price is $14.17 and its two-hundred day moving average price is $14.98. The stock has a market cap of $4.74 billion, a PE ratio of 7.77, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last issued its 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 net margin of 7.16% and a return on equity of 9.88%. As a group, sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.40%. NOV’s dividend payout ratio (DPR) is 18.63%.

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.