480,229 Shares in NOV Inc. (NYSE:NOV) Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 480,229 shares of the oil and gas exploration company’s stock, valued at approximately $7,011,000.

Several other institutional investors also recently bought and sold shares of the business. Sciencast Management LP lifted its holdings in shares of NOV by 13.0% during the 4th quarter. Sciencast Management LP now owns 22,938 shares of the oil and gas exploration company’s stock valued at $335,000 after acquiring an additional 2,635 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in shares of NOV by 30.6% during the fourth quarter. Teacher Retirement System of Texas now owns 154,810 shares of the oil and gas exploration company’s stock worth $2,260,000 after purchasing an additional 36,305 shares in the last quarter. Privium Fund Management B.V. boosted its position in shares of NOV by 13.1% in the fourth quarter. Privium Fund Management B.V. now owns 42,889 shares of the oil and gas exploration company’s stock worth $626,000 after buying an additional 4,964 shares during the period. Xponance Inc. grew its stake in shares of NOV by 6.2% in the fourth quarter. Xponance Inc. now owns 45,150 shares of the oil and gas exploration company’s stock valued at $659,000 after buying an additional 2,626 shares in the last quarter. Finally, Tejara Capital Ltd raised its holdings in shares of NOV by 0.8% during the 4th quarter. Tejara Capital Ltd now owns 572,032 shares of the oil and gas exploration company’s stock valued at $8,352,000 after buying an additional 4,432 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Price Performance

NOV opened at $14.62 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. The company’s 50-day moving average price is $14.99 and its 200 day moving average price is $15.44. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last announced 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 expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio (DPR) is 18.63%.

Analysts Set New Price Targets

NOV has been the subject of several recent research reports. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Piper Sandler lifted their price target 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. Barclays upped their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Raymond James lifted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.