NOV Inc. (NYSE:NOV) Stock Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in NOV Inc. (NYSE:NOV) by 3.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,113,452 shares of the oil and gas exploration company’s stock after acquiring an additional 91,013 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.79% of NOV worth $49,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in shares of NOV by 95.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock valued at $17,846,000 after acquiring an additional 429,104 shares during the period. Wintrust Investments LLC grew its position in NOV by 631.6% during the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock worth $1,600,000 after purchasing an additional 70,743 shares in the last quarter. Stanley Laman Group Ltd. acquired a new stake in NOV during the 2nd quarter valued at $4,031,000. Deprince Race & Zollo Inc. lifted its holdings in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after purchasing an additional 1,574,188 shares in the last quarter. Finally, WINTON GROUP Ltd boosted its position in shares of NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after buying an additional 798,303 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Performance

NOV opened at $15.41 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The company has a market cap of $6.10 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67. The stock has a 50-day moving average of $16.69 and a 200-day moving average of $17.96. NOV Inc. has a 52-week low of $15.27 and a 52-week high of $21.23.

NOV (NYSE:NOV) last announced its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business earned $0.39 earnings per share. The company’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts forecast that NOV Inc. will post 1.64 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s dividend payout ratio is 12.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on NOV from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Barclays reduced their price target on shares of NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley lowered their price objective on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. TD Cowen increased their target price on shares of NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Benchmark restated a “hold” rating on shares of NOV in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.57.

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.