Bank Julius Baer & Co. Ltd Zurich Makes New $42,000 Investment in NOV Inc. (NYSE:NOV)

Bank Julius Baer & Co. Ltd Zurich bought a new stake in NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,592 shares of the oil and gas exploration company’s stock, valued at approximately $42,000.

Other large investors have also modified their holdings of the company. Pacer Advisors Inc. increased its stake in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after buying an additional 12,210,514 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of NOV by 23.1% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after acquiring an additional 6,963,660 shares during the period. Weiss Asset Management LP purchased a new position in NOV during the third quarter worth about $35,709,000. Finally, Greenhaven Associates Inc. lifted its position in NOV by 61.7% in the fourth 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 purchasing an additional 1,255,666 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NOV shares. Piper Sandler boosted their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays upped their price objective on NOV from $12.00 to $13.00 and gave the stock 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. Royal Bank of Canada upped their price target on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, NOV presently has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Stock Down 3.7 %

NOV stock opened at $14.25 on Wednesday. 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 company’s 50 day simple moving average is $15.01 and its 200-day simple moving average is $15.60. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The firm has a market capitalization of $5.42 billion, a PE ratio of 8.85, a P/E/G ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating 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%. Equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio is presently 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.