Schroder Investment Management Group Has $22.15 Million Holdings in NOV Inc. (NYSE:NOV)

Schroder Investment Management Group grew its stake in shares of NOV Inc. (NYSE:NOVFree Report) by 71.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,092,422 shares of the oil and gas exploration company’s stock after purchasing an additional 454,665 shares during the period. Schroder Investment Management Group owned about 0.28% of NOV worth $22,154,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its holdings in NOV by 10.8% during the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after buying an additional 536 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of NOV by 1.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock valued at $1,020,000 after purchasing an additional 580 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in shares of NOV by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 172,288 shares of the oil and gas exploration company’s stock valued at $3,601,000 after purchasing an additional 870 shares in the last quarter. PAX Financial Group LLC boosted its holdings in NOV by 5.4% during the third quarter. PAX Financial Group LLC now owns 18,352 shares of the oil and gas exploration company’s stock worth $384,000 after purchasing an additional 944 shares during the last quarter. Finally, Amalgamated Bank grew its position in NOV by 0.4% in the 4th quarter. Amalgamated Bank now owns 251,686 shares of the oil and gas exploration company’s stock worth $5,104,000 after purchasing an additional 1,034 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on NOV. Piper Sandler dropped their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 20th. Susquehanna reiterated a “positive” rating and set a $26.00 price target on shares of NOV in a report on Monday, April 8th. Finally, TD Cowen reduced their price objective on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $24.07.

Read Our Latest Research Report on NOV

NOV Stock Performance

NYSE:NOV opened at $17.62 on Tuesday. The business’s fifty day moving average is $18.83 and its 200 day moving average is $18.88. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.54 and a beta of 1.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. NOV Inc. has a 52-week low of $14.85 and a 52-week high of $21.91.

NOV (NYSE:NOVGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 earnings per share. Research analysts predict that NOV Inc. will post 1.56 EPS for the current year.

NOV Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.70%. This is a boost from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio is presently 8.03%.

About NOV

(Free Report)

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.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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