AlphaQuest LLC Increases Stock Holdings in NOV Inc. (NYSE:NOV)

AlphaQuest LLC grew its holdings in shares of NOV Inc. (NYSE:NOV) by 199.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,946 shares of the oil and gas exploration company’s stock after purchasing an additional 11,960 shares during the period. AlphaQuest LLC’s holdings in NOV were worth $262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. UMB Bank n.a. increased 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 period. Quarry LP acquired a new position in shares of NOV during the third quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of NOV during the fourth quarter worth approximately $42,000. R Squared Ltd acquired a new stake in NOV in the fourth quarter valued at approximately $44,000. Finally, Brooklyn Investment Group acquired a new position in NOV during the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Up 2.1 %

NYSE:NOV opened at $14.29 on Friday. 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 stock’s 50 day simple moving average is $14.97 and its 200-day simple moving average is $15.53. NOV Inc. has a 12-month low of $13.78 and a 12-month high of $21.20. The firm has a market cap of $5.44 billion, a P/E ratio of 8.87, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last announced its quarterly earnings data 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 net margin of 7.16% and a return on equity of 9.88%. Equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.10%. The ex-dividend date is Friday, March 14th. NOV’s payout ratio is 18.63%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NOV. 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 report on Monday, February 10th. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, ATB Capital reissued a “sector perform” rating and set a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.