GAMMA Investing LLC Makes New $61,000 Investment in NOV Inc. (NYSE:NOV)

GAMMA Investing LLC bought a new stake in NOV Inc. (NYSE:NOV) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,151 shares of the oil and gas exploration company’s stock, valued at approximately $61,000.

A number of other large investors also recently made changes to their positions in the company. FMR LLC grew its position in NOV by 30.9% during the third quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock valued at $386,962,000 after buying an additional 4,369,540 shares during the period. Earnest Partners LLC grew its position in shares of NOV by 4.5% during the 3rd quarter. Earnest Partners LLC now owns 4,143,782 shares of the oil and gas exploration company’s stock valued at $86,605,000 after acquiring an additional 178,375 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of NOV by 2.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,018,909 shares of the oil and gas exploration company’s stock valued at $83,995,000 after acquiring an additional 86,431 shares during the period. Greenhaven Associates Inc. increased its stake in shares of NOV by 1.8% during the 4th quarter. Greenhaven Associates Inc. now owns 1,590,400 shares of the oil and gas exploration company’s stock worth $32,253,000 after purchasing an additional 28,500 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its holdings in shares of NOV by 1.3% in the 3rd quarter. Loomis Sayles & Co. L P now owns 1,342,875 shares of the oil and gas exploration company’s stock worth $28,066,000 after purchasing an additional 16,638 shares during the period. 93.27% of the stock is owned by institutional investors.

NOV Trading Down 0.6 %

NOV stock opened at $18.38 on Thursday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.50 and a current ratio of 2.50. NOV Inc. has a fifty-two week low of $14.05 and a fifty-two week high of $21.91. The stock has a market cap of $7.27 billion, a P/E ratio of 7.38, a PEG ratio of 0.84 and a beta of 1.74. The firm’s fifty day moving average price is $18.67 and its 200-day moving average price is $19.13.

NOV (NYSE:NOV) last posted its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that NOV Inc. will post 1.52 earnings per share for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s dividend payout ratio is currently 8.03%.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of recent research reports. Stifel Nicolaus decreased their target price on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Raymond James lowered their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating on the stock in a research note on Monday, February 5th. Piper Sandler cut their target price on shares of NOV from $25.00 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday, February 20th. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, TD Cowen cut their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $24.07.

Insider Buying and Selling at NOV

In other news, CAO Christy Lynn Novak sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the sale, the chief accounting officer now owns 114,212 shares in the company, valued at approximately $1,990,715.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.85% of the stock is currently owned by company insiders.

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.