Greenhaven Associates Inc. Buys 236,400 Shares of NOV Inc. (NYSE:NOV)

Greenhaven Associates Inc. lifted its stake in NOV Inc. (NYSE:NOV) by 13.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,035,376 shares of the oil and gas exploration company’s stock after purchasing an additional 236,400 shares during the quarter. NOV comprises about 0.4% of Greenhaven Associates Inc.’s holdings, making the stock its 15th biggest position. Greenhaven Associates Inc.’s holdings in NOV were worth $32,505,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in NOV by 5.1% in the 4th quarter. US Bancorp DE now owns 32,786 shares of the oil and gas exploration company’s stock worth $665,000 after buying an additional 1,584 shares during the period. Hsbc Holdings PLC increased its holdings in shares of NOV by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 72,397 shares of the oil and gas exploration company’s stock worth $1,475,000 after purchasing an additional 5,801 shares during the last quarter. TD Asset Management Inc increased its position in NOV by 79.7% in the fourth quarter. TD Asset Management Inc now owns 86,278 shares of the oil and gas exploration company’s stock worth $1,750,000 after purchasing an additional 38,278 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of NOV by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 173,988 shares of the oil and gas exploration company’s stock worth $3,528,000 after buying an additional 1,700 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC increased its stake in NOV by 9.5% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,918 shares of the oil and gas exploration company’s stock worth $505,000 after acquiring an additional 2,166 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Down 0.5 %

NOV stock opened at $16.12 on Thursday. The firm has a market cap of $6.37 billion, a P/E ratio of 6.47, a P/E/G ratio of 0.50 and a beta of 1.67. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. NOV Inc. has a twelve month low of $15.47 and a twelve month high of $21.53. The business has a fifty day moving average of $17.41 and a two-hundred day moving average of $18.28.

NOV (NYSE:NOV) last posted its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. NOV’s revenue for the quarter was up 5.9% compared to the same quarter last year. On average, analysts forecast that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, September 13th. NOV’s payout ratio is currently 12.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen increased their price target on NOV from $27.00 to $28.00 and gave the company a “buy” rating in a report on Monday, July 29th. Barclays lifted their target price on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Wells Fargo & Company lowered shares of NOV from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.00 in a research report on Wednesday, September 25th. Finally, Piper Sandler lowered their price target on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

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.