Oxford Asset Management LLP Boosts Stake in NOV Inc. (NYSE:NOV)

Oxford Asset Management LLP grew its holdings in shares of NOV Inc. (NYSE:NOV) by 192.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 37,079 shares of the oil and gas exploration company’s stock after purchasing an additional 24,416 shares during the period. Oxford Asset Management LLP’s holdings in NOV were worth $541,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock valued at $245,178,000 after purchasing an additional 1,934,243 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after acquiring an additional 12,210,514 shares during the last quarter. Geode Capital Management LLC grew its position in NOV by 4.7% in the fourth quarter. Geode Capital Management LLC now owns 6,697,650 shares of the oil and gas exploration company’s stock worth $97,815,000 after acquiring an additional 302,009 shares in the last quarter. Van ECK Associates Corp increased its stake in NOV by 22.1% in the fourth quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after acquiring an additional 938,866 shares during the last quarter. Finally, Greenhaven Associates Inc. raised its position in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $12.34 on Friday. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The firm has a market cap of $4.67 billion, a P/E ratio of 7.66, a P/E/G ratio of 1.02 and a beta of 1.35. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average of $13.82 and a 200-day moving average of $14.83.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, March 14th. NOV’s payout ratio is currently 18.63%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NOV shares. Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Piper Sandler increased their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Finally, Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.00.

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.