Signaturefd LLC Raises Position in NOV Inc. (NYSE:NOV)

Signaturefd LLC increased its holdings in shares of NOV Inc. (NYSE:NOV) by 41.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,587 shares of the oil and gas exploration company’s stock after buying an additional 756 shares during the quarter. Signaturefd LLC’s holdings in NOV were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its stake in NOV by 17.9% in the 4th quarter. Corient Private Wealth LLC now owns 14,506 shares of the oil and gas exploration company’s stock worth $212,000 after purchasing an additional 2,198 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of NOV by 28.3% in the fourth quarter. Commonwealth Equity Services LLC now owns 25,425 shares of the oil and gas exploration company’s stock worth $371,000 after buying an additional 5,605 shares during the last quarter. Vestcor Inc acquired a new stake in shares of NOV during the fourth quarter worth $425,000. First Pacific Advisors LP purchased a new stake in shares of NOV during the fourth quarter valued at $39,495,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NOV by 7.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 90,834 shares of the oil and gas exploration company’s stock valued at $1,326,000 after acquiring an additional 6,448 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Up 2.3 %

NOV stock 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 has a market capitalization of $5.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The business has a 50 day simple moving average of $15.00 and a 200-day simple moving average of $15.40. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20.

NOV (NYSE:NOV) last issued its quarterly 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%. On average, analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.94%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analyst Upgrades and Downgrades

A number of analysts have commented on NOV shares. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Raymond James raised their price target on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective on the stock in a report on Monday. Finally, Piper Sandler raised 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus target price of $19.60.

NOV 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.