Pacer Advisors Inc. Decreases Stock Holdings in NOV Inc. $NOV

Pacer Advisors Inc. lowered its holdings in shares of NOV Inc. (NYSE:NOV) by 34.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,128,053 shares of the oil and gas exploration company’s stock after selling 1,139,301 shares during the quarter. Pacer Advisors Inc. owned 0.59% of NOV worth $33,261,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. V Square Quantitative Management LLC purchased a new stake in shares of NOV during the 4th quarter valued at about $28,000. CIBC Private Wealth Group LLC grew its position in NOV by 659.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 1,978 shares in the last quarter. Rothschild Investment LLC increased its stake in NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after acquiring an additional 780 shares during the last quarter. Allworth Financial LP raised its position in NOV by 37.9% during the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 709 shares during the period. Finally, Fifth Third Bancorp lifted its stake in shares of NOV by 88.4% in the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock valued at $67,000 after purchasing an additional 2,385 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NOV shares. Morgan Stanley boosted their target price on NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 15th. Stifel Nicolaus lifted their price objective on shares of NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. TD Cowen upgraded shares of NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 target price on shares of NOV in a research note on Wednesday, June 3rd. Finally, Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.57.

NOV Price Performance

Shares of NOV stock opened at $18.64 on Friday. NOV Inc. has a 52-week low of $11.77 and a 52-week high of $21.55. 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 firm has a market capitalization of $6.69 billion, a P/E ratio of 77.65 and a beta of 0.89. The stock has a 50 day moving average price of $20.20 and a 200 day moving average price of $18.79.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.19 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 12th. This represents a dividend yield of 170.0%. NOV’s dividend payout ratio is presently 150.00%.

NOV Company Profile

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.