NOV Inc. (NYSE:NOV) Stake Increased by First Eagle Investment Management LLC

First Eagle Investment Management LLC increased its stake in NOV Inc. (NYSE:NOV) by 0.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,136,206 shares of the oil and gas exploration company’s stock after buying an additional 17,566 shares during the period. First Eagle Investment Management LLC owned about 0.10% of NOV worth $556,789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NOV. Pacer Advisors Inc. increased 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 worth $179,718,000 after buying an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of NOV by 22.3% in the third 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 buying an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of NOV by 23.1% in the third 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 buying an additional 6,963,660 shares during the last quarter. First Pacific Advisors LP bought a new stake in shares of NOV in the fourth quarter worth $39,495,000. Finally, Weiss Asset Management LP bought a new stake in shares of NOV in the third quarter worth $35,709,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $14.00 on Friday. The company has a market capitalization of $5.33 billion, a P/E ratio of 8.69, a PEG ratio of 1.02 and a beta of 1.66. The company has a 50-day simple moving average of $15.00 and a 200 day simple moving average of $15.59. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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%. Sell-side analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.14%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analysts Set New Price Targets

A number of research firms have commented on NOV. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler lifted their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Thursday, February 6th. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Finally, Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, NOV has an average rating of “Hold” and a consensus target price of $19.60.

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.