Deprince Race & Zollo Inc. Acquires 1,574,188 Shares of NOV Inc. (NYSE:NOV)

Deprince Race & Zollo Inc. raised its stake in shares of NOV Inc. (NYSE:NOV) by 1,194.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,706,017 shares of the oil and gas exploration company’s stock after buying an additional 1,574,188 shares during the period. Deprince Race & Zollo Inc. owned 0.43% of NOV worth $32,431,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Wedmont Private Capital increased its position in NOV by 5.2% in the 1st quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock worth $263,000 after buying an additional 643 shares during the period. Mather Group LLC. raised its stake in NOV by 17.2% during the 2nd quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 839 shares during the last quarter. GAMMA Investing LLC grew its position in NOV by 18.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock worth $104,000 after purchasing an additional 848 shares during the last quarter. Quadrature Capital Ltd increased its holdings in shares of NOV by 3.1% during the 1st quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock worth $576,000 after purchasing an additional 889 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of NOV by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company’s stock valued at $980,000 after buying an additional 1,164 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Trading Down 3.7 %

NOV stock opened at $16.13 on Thursday. The business has a fifty day moving average price of $17.69 and a 200 day moving average price of $18.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. NOV Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $21.71. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 6.48, a P/E/G ratio of 0.50 and a beta of 1.67.

NOV (NYSE:NOV) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. The company had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the company posted $0.39 earnings per share. Analysts expect that NOV Inc. will post 1.63 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.86%. NOV’s payout ratio is 12.05%.

Wall Street Analyst Weigh In

NOV has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Evercore ISI raised NOV to a “strong-buy” rating in a research report on Friday, July 26th. Piper Sandler dropped their price objective on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Bank of America decreased their target price on shares of NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Finally, Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $20.00 to $16.00 in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $24.00.

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.