First Pacific Advisors LP Makes New $39.50 Million Investment in NOV Inc. (NYSE:NOV)

First Pacific Advisors LP bought a new stake in NOV Inc. (NYSE:NOV) during the 4th quarter, Holdings Channel reports. The fund bought 2,705,128 shares of the oil and gas exploration company’s stock, valued at approximately $39,495,000.

Several other institutional investors also recently modified their holdings of NOV. Harbor Capital Advisors Inc. boosted its stake in NOV by 10.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after acquiring an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. lifted its stake in shares of NOV by 61.7% in the 4th 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 purchasing an additional 1,255,666 shares during the period. Barclays PLC boosted its position in shares of NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Bank of Montreal Can grew its stake in shares of NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after purchasing an additional 367,308 shares during the period. Finally, Weiss Asset Management LP bought a new stake in NOV in the third quarter valued at about $35,709,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Up 4.6 %

Shares of NOV stock opened at $15.00 on Monday. NOV Inc. has a 52-week low of $13.77 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 business’s 50 day simple moving average is $15.01 and its 200 day simple moving average is $15.64. The firm has a market cap of $5.71 billion, a PE ratio of 9.32, a P/E/G ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) 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%. On average, analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. NOV’s payout ratio is 18.63%.

Analysts Set New Price Targets

NOV has been the topic of a number of recent analyst reports. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Raymond James boosted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Piper Sandler increased their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Finally, Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, NOV currently has a consensus rating of “Hold” and an average price target 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.