EntryPoint Capital LLC Takes Position in NOV Inc. (NYSE:NOV)

EntryPoint Capital LLC acquired a new stake in NOV Inc. (NYSE:NOV) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 29,236 shares of the oil and gas exploration company’s stock, valued at approximately $427,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quest Partners LLC purchased a new position in shares of NOV in the third quarter valued at $96,000. Charles Schwab Investment Management Inc. grew its holdings in NOV by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock valued at $46,760,000 after buying an additional 55,056 shares in the last quarter. Cerity Partners LLC increased its position in shares of NOV by 5.4% during the third quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock valued at $1,026,000 after buying an additional 3,274 shares during the period. Bank of Montreal Can lifted its holdings in shares of NOV by 519.1% in 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 buying an additional 367,308 shares in the last quarter. Finally, Qsemble Capital Management LP bought a new position in shares of NOV in the third quarter valued at approximately $1,928,000. Institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. 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 research note on Monday, February 10th. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Atb Cap Markets lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Barclays lifted their price target on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a research report on Monday. Two investment 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. Based on data from MarketBeat.com, NOV currently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Price Performance

NOV opened at $15.47 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The stock’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $15.40. The firm has a market cap of $5.89 billion, a price-to-earnings ratio of 9.61, a PEG 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.

NOV (NYSE:NOV) last issued its 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 net margin of 7.16% and a return on equity of 9.88%. As a group, analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.94%. NOV’s dividend payout ratio is currently 18.63%.

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.