81,500 Shares in NOV Inc. (NYSE:NOV) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 81,500 shares of the oil and gas exploration company’s stock, valued at approximately $1,190,000.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of NOV during the third quarter valued at $36,000. UMB Bank n.a. increased its stake in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. Signaturefd LLC raised its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after buying an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of NOV in the 4th quarter worth approximately $42,000. Finally, Brooklyn Investment Group bought a new position in shares of NOV in the third quarter valued at approximately $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of research analyst reports. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, 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 research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Trading Down 2.1 %

NYSE NOV opened at $14.96 on Friday. The firm’s 50 day moving average price is $15.00 and its two-hundred day moving average price is $15.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a twelve month low of $13.78 and a twelve month high of $21.20. The stock has a market cap of $5.70 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 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.