NOV Inc. (NYSE:NOV) Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of NOV Inc. (NYSE:NOV) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,463,027 shares of the oil and gas exploration company’s stock after purchasing an additional 566,160 shares during the quarter. Vanguard Group Inc. owned approximately 10.50% of NOV worth $600,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NOV. Dimensional Fund Advisors LP boosted its stake in NOV by 13.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after purchasing an additional 1,934,243 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of NOV by 85.9% during the 4th quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company’s stock worth $55,248,000 after acquiring an additional 1,748,816 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NOV by 40.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock worth $83,489,000 after acquiring an additional 1,652,917 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of NOV by 187.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,071,760 shares of the oil and gas exploration company’s stock worth $30,248,000 after acquiring an additional 1,351,441 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of NOV by 181.2% during the 4th quarter. Millennium Management LLC now owns 1,743,550 shares of the oil and gas exploration company’s stock worth $25,456,000 after acquiring an additional 1,123,431 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOV. Wells Fargo & Company reduced their price target on NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, June 5th. Royal Bank Of Canada reduced their price target on NOV from $19.00 to $18.00 and set an “outperform” rating on the stock in a report on Wednesday, July 30th. Stifel Nicolaus reduced their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, July 30th. Piper Sandler reduced their price target on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday, May 1st. Finally, Evercore ISI reduced their price target on NOV from $15.00 to $14.00 and set an “in-line” rating on the stock in a report on Wednesday, July 30th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $16.69.

NOV Stock Performance

NYSE NOV opened at $12.34 on Thursday. The company has a market cap of $4.58 billion, a P/E ratio of 10.11, a P/E/G ratio of 3.33 and a beta of 1.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.58 and a quick ratio of 1.72. The stock has a 50-day moving average of $13.02 and a two-hundred day moving average of $13.42. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $18.40.

NOV (NYSE:NOV) last released its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.01). The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. The business’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. As a group, analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were given a $0.21 dividend. This represents a yield of 363.0%. The ex-dividend date of this dividend was Monday, June 2nd. NOV’s payout ratio is currently 24.59%.

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.