Algert Global LLC Acquires 18,777 Shares of NOV Inc. (NYSE:NOV)

Algert Global LLC increased its holdings in shares of NOV Inc. (NYSE:NOV) by 9.1% in the second quarter, Holdings Channel.com reports. The firm owned 226,234 shares of the oil and gas exploration company’s stock after purchasing an additional 18,777 shares during the quarter. Algert Global LLC’s holdings in NOV were worth $4,301,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Pzena Investment Management LLC lifted its stake in NOV by 0.3% in the second quarter. Pzena Investment Management LLC now owns 35,175,886 shares of the oil and gas exploration company’s stock valued at $668,694,000 after buying an additional 103,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock valued at $230,743,000 after buying an additional 3,470,860 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in NOV by 67.2% in the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after buying an additional 3,989,095 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of NOV by 769.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after purchasing an additional 5,456,581 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of NOV in the first quarter worth $119,686,000. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NYSE:NOV opened at $15.96 on Tuesday. NOV Inc. has a one year low of $15.47 and a one year high of $21.53. The company has a market cap of $6.31 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.50 and a beta of 1.67. The firm’s fifty day moving average price is $17.50 and its two-hundred day moving average price is $18.31. 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 (NYSE:NOV) last released its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the company posted $0.39 earnings per share. NOV’s revenue was up 5.9% compared to the same quarter last year. Equities analysts expect that NOV Inc. will post 1.63 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.075 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.88%. NOV’s dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Barclays boosted their price objective on shares of NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $20.00 to $16.00 in a research report on Wednesday, September 25th. Benchmark reissued a “hold” rating on shares of NOV in a research report on Friday, July 26th. Morgan Stanley cut 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. Finally, Piper Sandler cut their price objective on shares of NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

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.