New Age Alpha Advisors LLC Purchases 36,588 Shares of NOV Inc. $NOV

New Age Alpha Advisors LLC boosted its position in shares of NOV Inc. (NYSE:NOV) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,831 shares of the oil and gas exploration company’s stock after purchasing an additional 36,588 shares during the period. New Age Alpha Advisors LLC owned about 0.10% of NOV worth $5,421,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NOV. Tejara Capital Ltd grew its holdings in shares of NOV by 33.1% in the 3rd quarter. Tejara Capital Ltd now owns 670,199 shares of the oil and gas exploration company’s stock valued at $8,880,000 after acquiring an additional 166,692 shares in the last quarter. Monaco Asset Management SAM bought a new position in shares of NOV in the 3rd quarter valued at about $4,969,000. Keybank National Association OH bought a new position in shares of NOV in the 3rd quarter valued at about $3,978,000. American Century Companies Inc. grew its holdings in shares of NOV by 43.6% in the 3rd quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock valued at $100,654,000 after acquiring an additional 2,304,975 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in shares of NOV by 417.4% in the 3rd quarter. GSA Capital Partners LLP now owns 203,251 shares of the oil and gas exploration company’s stock valued at $2,693,000 after acquiring an additional 163,965 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $20.81 on Monday. NOV Inc. has a 52 week low of $11.65 and a 52 week high of $21.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. The stock has a market capitalization of $7.47 billion, a P/E ratio of 86.71 and a beta of 0.92. The stock has a 50-day simple moving average of $19.62 and a 200 day simple moving average of $18.09.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that NOV Inc. will post 0.91 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a special dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a dividend of $0.09 per share. The ex-dividend date is Friday, June 12th. This represents a yield of 173.0%. NOV’s dividend payout ratio (DPR) is presently 150.00%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NOV shares. Susquehanna raised their price objective on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Evercore upgraded NOV to a “hold” rating in a report on Wednesday, April 29th. BMO Capital Markets raised their price objective on NOV from $19.00 to $20.00 and gave the company a “market perform” rating in a report on Monday, February 9th. Morgan Stanley raised their price objective on NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, April 15th. Finally, Piper Sandler raised their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.36.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.