Kiltearn Partners LLP Has $9.47 Million Holdings in NOV Inc. (NYSE:NOV)

Kiltearn Partners LLP lessened its position in NOV Inc. (NYSE:NOV) by 9.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 648,700 shares of the oil and gas exploration company’s stock after selling 68,100 shares during the quarter. NOV makes up about 1.6% of Kiltearn Partners LLP’s portfolio, making the stock its 24th biggest position. Kiltearn Partners LLP owned about 0.17% of NOV worth $9,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in shares of NOV by 222.3% in 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 buying an additional 1,612 shares during the last quarter. Quarry LP acquired a new position in NOV during the third quarter valued at approximately $36,000. Signaturefd LLC boosted its stake in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. CoreFirst Bank & Trust acquired a new stake in shares of NOV in the 4th quarter valued at approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in NOV in the fourth quarter valued at approximately $42,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Monday. Piper Sandler increased 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. ATB Capital reissued a “sector perform” rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Raymond James raised their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Barclays boosted 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.60.

NOV Trading Down 1.1 %

Shares of NOV stock opened at $15.27 on Friday. The stock’s 50-day simple moving average is $15.01 and its 200 day simple moving average is $15.40. NOV Inc. has a 52-week low of $13.78 and a 52-week high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a market capitalization of $5.81 billion, a P/E ratio of 9.48, a P/E/G ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating 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, research analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Friday, March 14th. NOV’s 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.