Peak6 LLC Takes $160,000 Position in NOV Inc. (NYSE:NOV)

Peak6 LLC purchased a new stake in NOV Inc. (NYSE:NOV) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,990 shares of the oil and gas exploration company’s stock, valued at approximately $160,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NOV. Pacer Advisors Inc. increased its stake in NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares during the period. First Pacific Advisors LP bought a new position in NOV in the fourth quarter worth $39,495,000. Greenhaven Associates Inc. increased its holdings in NOV by 61.7% in the 4th 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 buying an additional 1,255,666 shares during the period. Van ECK Associates Corp boosted its position in shares of NOV by 22.1% during the 4th 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 in the last quarter. Finally, LSV Asset Management raised its position in NOV by 294.7% in the fourth quarter. LSV Asset Management now owns 1,193,300 shares of the oil and gas exploration company’s stock worth $17,422,000 after purchasing an additional 891,000 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOV. Raymond James upped their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Barclays boosted their target price on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Piper Sandler increased their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.00.

NOV Price Performance

Shares of NOV stock opened at $12.31 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The firm has a market cap of $4.66 billion, a price-to-earnings ratio of 7.65, a PEG ratio of 1.02 and a beta of 1.35. The stock has a 50-day moving average price of $14.10 and a 200 day moving average price of $14.94.

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

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.44%. NOV’s payout ratio is currently 18.63%.

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.