NOV Inc. (NYSE:NOV) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of NOV Inc. (NYSE:NOV) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,852 shares of the oil and gas exploration company’s stock after selling 4,605 shares during the period. Oppenheimer Asset Management Inc.’s holdings in NOV were worth $1,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NOV. Pacer Advisors Inc. boosted its stake in shares of NOV by 12,344.0% in 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 purchasing an additional 12,210,514 shares during the period. Pzena Investment Management LLC increased its holdings in NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC increased its holdings in NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after purchasing an additional 6,963,660 shares during the period. Weiss Asset Management LP purchased a new position in shares of NOV in the 3rd quarter valued at about $35,709,000. Finally, Greenhaven Associates Inc. boosted its stake in shares of 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. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NOV has been the topic of several analyst reports. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Piper Sandler raised their target price on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and reduced their target price for the company from $21.00 to $18.00 in a report on Monday, November 11th. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Barclays raised their target price on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus price target of $19.60.

NOV Stock Down 5.0 %

NOV stock opened at $14.18 on Tuesday. The company’s 50 day moving average is $15.01 and its two-hundred day moving average is $15.74. The stock has a market cap of $5.40 billion, a P/E ratio of 8.81, a PEG ratio of 1.02 and a beta of 1.64. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last announced its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 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 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.12%. NOV’s payout ratio is 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.