AXQ Capital LP Has $1.55 Million Stake in NOV Inc. (NYSE:NOV)

AXQ Capital LP boosted its holdings in NOV Inc. (NYSE:NOV) by 557.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 106,202 shares of the oil and gas exploration company’s stock after acquiring an additional 90,040 shares during the quarter. NOV accounts for approximately 0.7% of AXQ Capital LP’s portfolio, making the stock its 13th largest position. AXQ Capital LP’s holdings in NOV were worth $1,551,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new position in NOV in the third quarter valued at approximately $36,000. UMB Bank n.a. lifted its holdings in NOV by 222.3% in 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 buying an additional 1,612 shares during the period. Signaturefd LLC lifted its holdings in NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new position in NOV in the fourth quarter valued at approximately $42,000. Finally, Brooklyn Investment Group acquired a new position in NOV in the third quarter valued at approximately $48,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NOV. ATB Capital restated a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Raymond James upped their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Royal Bank of Canada upped their target price on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Performance

Shares of NOV opened at $14.62 on Friday. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The firm has a fifty day simple moving average of $14.99 and a 200 day simple moving average of $15.44. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.02 and a beta of 1.66. 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, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Research analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

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.