Xponance Inc. Raises Holdings in NOV Inc. (NYSE:NOV)

Xponance Inc. raised its position in NOV Inc. (NYSE:NOV) by 6.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 45,150 shares of the oil and gas exploration company’s stock after purchasing an additional 2,626 shares during the period. Xponance Inc.’s holdings in NOV were worth $659,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. UMB Bank n.a. grew its position in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP acquired a new position in NOV during the third quarter worth $36,000. Signaturefd LLC grew its holdings in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $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 $42,000. Finally, R Squared Ltd acquired a new position in shares of NOV during the 4th quarter valued at about $44,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on NOV. Raymond James lifted their target price 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. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Barclays lifted their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Piper Sandler upped their price target on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, NOV has an average rating of “Hold” and an average target price of $19.60.

NOV Price Performance

NOV stock opened at $15.47 on Wednesday. The business has a 50 day moving average price of $15.00 and a 200 day moving average price of $15.40. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 1.02 and a beta of 1.66. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.94%. The ex-dividend date is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

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.