Victory Capital Management Inc. Has $2.46 Million Stock Position in NOV Inc. (NYSE:NOV)

Victory Capital Management Inc. raised its position in shares of NOV Inc. (NYSE:NOV) by 52.9% in the 4th quarter, Holdings Channel reports. The firm owned 168,168 shares of the oil and gas exploration company’s stock after acquiring an additional 58,184 shares during the period. Victory Capital Management Inc.’s holdings in NOV were worth $2,455,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NOV. Harbor Capital Advisors Inc. increased its holdings in shares of NOV by 10.8% during the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after buying an additional 56,665 shares in the last quarter. Greenhaven Associates Inc. increased its holdings in shares of NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares in the last quarter. Barclays PLC increased its holdings in shares of NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Bank of Montreal Can increased its holdings 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 buying an additional 367,308 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of NOV during the third quarter worth $35,709,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NOV shares. ATB Capital reiterated a “sector perform” rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Royal Bank of Canada boosted their price objective on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Thursday, February 6th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Finally, Raymond James boosted their price objective on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

Shares of NOV opened at $14.29 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $5.44 billion, a P/E ratio of 8.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The firm’s fifty day simple moving average is $14.97 and its two-hundred day simple moving average is $15.52. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts predict that NOV Inc. will post 1.4 EPS for the current 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 given 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 2.10%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

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.