NOV Inc. (NYSE:NOV) Shares Acquired by TCW Group Inc.

TCW Group Inc. lifted its stake in shares of NOV Inc. (NYSE:NOV) by 26.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,724 shares of the oil and gas exploration company’s stock after buying an additional 15,619 shares during the period. TCW Group Inc.’s holdings in NOV were worth $1,536,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC raised its stake in NOV by 30.9% in the 3rd quarter. FMR LLC now owns 18,514,921 shares of the oil and gas exploration company’s stock worth $386,962,000 after acquiring an additional 4,369,540 shares during the last quarter. Schroder Investment Management Group purchased a new position in shares of NOV in the third quarter worth about $13,329,000. Envestnet Asset Management Inc. lifted its holdings in shares of NOV by 68.7% during the third quarter. Envestnet Asset Management Inc. now owns 646,973 shares of the oil and gas exploration company’s stock worth $13,522,000 after purchasing an additional 263,543 shares during the period. Retirement Systems of Alabama boosted its position in NOV by 42.3% in the third quarter. Retirement Systems of Alabama now owns 864,474 shares of the oil and gas exploration company’s stock valued at $18,068,000 after buying an additional 256,883 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in NOV by 4.2% in the 4th quarter. Van ECK Associates Corp now owns 5,687,556 shares of the oil and gas exploration company’s stock worth $115,343,000 after buying an additional 231,464 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOV has been the subject of several research reports. Raymond James decreased their price objective on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of NOV in a research report on Tuesday, February 6th. Stifel Nicolaus cut their price target on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. StockNews.com raised NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Piper Sandler lowered their target price on NOV from $25.00 to $22.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus target price of $24.07.

NOV Price Performance

Shares of NYSE:NOV traded down $0.01 during midday trading on Friday, reaching $18.24. 1,706,698 shares of the company’s stock traded hands, compared to its average volume of 3,077,658. The company has a fifty day simple moving average of $19.12 and a two-hundred day simple moving average of $18.98. NOV Inc. has a 1 year low of $14.05 and a 1 year high of $21.91. The company has a market cap of $7.21 billion, a P/E ratio of 7.33, a PEG ratio of 0.57 and a beta of 1.74. 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 (NYSE:NOV) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. Equities analysts predict that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.64%. This is a boost from NOV’s previous quarterly dividend of $0.05. The ex-dividend date is Friday, June 14th. NOV’s payout ratio is presently 8.03%.

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.