Ieq Capital LLC Makes New Investment in NOV Inc. (NYSE:NOV)

Ieq Capital LLC acquired a new position in shares of NOV Inc. (NYSE:NOV) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 159,346 shares of the oil and gas exploration company’s stock, valued at approximately $2,326,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. UMB Bank n.a. lifted 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 worth $34,000 after purchasing an additional 1,612 shares during the last quarter. Quarry LP acquired a new stake in shares of NOV during the third quarter worth $36,000. R Squared Ltd bought a new stake in shares of NOV in the fourth quarter valued at about $44,000. International Assets Investment Management LLC grew its stake in shares of NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new position in NOV during the third quarter worth about $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $15.10 on Monday. The company’s 50 day moving average price is $14.95 and its two-hundred day moving average price is $15.86. The firm has a market capitalization of $5.75 billion, a P/E ratio of 9.38, a P/E/G ratio of 1.02 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a fifty-two week low of $13.94 and a fifty-two week high of $21.20.

NOV (NYSE:NOV) last issued its quarterly earnings data 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%. On average, equities analysts forecast 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 will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.99%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of analyst reports. Piper Sandler increased their target price 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. TD Cowen reduced their price target on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Stifel Nicolaus reduced their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $19.60.

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.