Pacer Advisors Inc. Grows Stake in NOV Inc. (NYSE:NOV)

Pacer Advisors Inc. lifted its stake in NOV Inc. (NYSE:NOV) by 12,344.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,309,433 shares of the oil and gas exploration company’s stock after purchasing an additional 12,210,514 shares during the quarter. Pacer Advisors Inc. owned 3.16% of NOV worth $179,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Quarry LP purchased a new position in NOV in the third quarter worth about $36,000. UMB Bank n.a. increased its position in shares of NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares in the last quarter. American National Bank & Trust purchased a new position in NOV in the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC lifted its position in NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group bought a new stake in shares of NOV in the 3rd quarter worth $48,000. Institutional investors own 93.27% of the company’s stock.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the sale, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Susquehanna lowered their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. JPMorgan Chase & Co. reduced their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Wells Fargo & Company reduced their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Piper Sandler assumed coverage on shares of NOV in a research note on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average price target of $20.00.

NOV Stock Down 0.2 %

Shares of NOV stock opened at $14.87 on Monday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. NOV Inc. has a one year low of $13.94 and a one year high of $21.23. The company’s fifty day moving average price is $15.16 and its 200-day moving average price is $16.38. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 5.49, a PEG ratio of 0.95 and a beta of 1.66.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.075 per share. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.02%. NOV’s dividend payout ratio is presently 11.07%.

About NOV

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.