Aristides Capital LLC Raises Position in NOV Inc. (NYSE:NOV)

Aristides Capital LLC boosted its position in shares of NOV Inc. (NYSE:NOV) by 12.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,630 shares of the oil and gas exploration company’s stock after buying an additional 3,630 shares during the period. Aristides Capital LLC’s holdings in NOV were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. Geode Capital Management LLC boosted its stake in NOV by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company’s stock worth $97,815,000 after purchasing an additional 302,009 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of NOV by 22.1% during the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock worth $75,658,000 after buying an additional 938,866 shares in the last quarter. Greenhaven Associates Inc. raised its position in shares of NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after buying an additional 1,255,666 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of NOV by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock worth $44,089,000 after buying an additional 91,800 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

NYSE:NOV opened at $11.92 on Friday. NOV Inc. has a fifty-two week low of $11.66 and a fifty-two 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 company has a 50 day moving average price of $14.91 and a 200 day moving average price of $15.33. The stock has a market capitalization of $4.54 billion, a P/E ratio of 7.40, a PEG ratio of 1.02 and a beta of 1.34.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities research analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

NOV has been the subject of several research reports. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target for the company in a report on Monday, March 24th. Piper Sandler boosted their price objective on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Raymond James raised their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $19.60.

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.