New Age Alpha Advisors LLC Acquires Shares of 263,199 NOV Inc. (NYSE:NOV)

New Age Alpha Advisors LLC bought a new position in NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 263,199 shares of the oil and gas exploration company’s stock, valued at approximately $3,843,000. New Age Alpha Advisors LLC owned about 0.07% of NOV as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. UMB Bank n.a. grew its stake in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the last quarter. Quarry LP bought a new stake in NOV during the 3rd quarter worth approximately $36,000. Signaturefd LLC increased its holdings in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. CoreFirst Bank & Trust bought a new position in NOV in the 4th quarter valued at $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV in the fourth quarter worth $42,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

Shares of NOV opened at $14.96 on Friday. The stock has a market cap of $5.70 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The stock’s 50-day moving average price is $15.00 and its two-hundred day moving average price is $15.40. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

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, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on NOV shares. Evercore ISI restated an “in-line” rating and issued a $18.00 target price (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Monday, March 24th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Piper Sandler boosted 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. Finally, ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Company 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.