Vanguard Group Inc. Has $794.62 Million Holdings in NOV Inc. (NYSE:NOV)

Vanguard Group Inc. grew its holdings in shares of NOV Inc. (NYSE:NOV) by 0.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,182,530 shares of the oil and gas exploration company’s stock after acquiring an additional 9,537 shares during the period. Vanguard Group Inc. owned 9.95% of NOV worth $794,622,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NOV. CWM LLC grew its stake in NOV by 10.8% during the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after purchasing an additional 536 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of NOV by 1.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock valued at $1,020,000 after acquiring an additional 580 shares during the period. Treasurer of the State of North Carolina boosted its stake in NOV by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 172,288 shares of the oil and gas exploration company’s stock worth $3,601,000 after acquiring an additional 870 shares in the last quarter. Amalgamated Bank grew its holdings in NOV by 0.4% in the fourth quarter. Amalgamated Bank now owns 251,686 shares of the oil and gas exploration company’s stock worth $5,104,000 after purchasing an additional 1,034 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in NOV by 7.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,354 shares of the oil and gas exploration company’s stock valued at $372,000 after purchasing an additional 1,197 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NOV has been the subject of several research reports. Susquehanna restated a “positive” rating and issued a $26.00 target price on shares of NOV in a research note on Monday, April 8th. TD Cowen decreased their price objective on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a report on Monday, April 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.07.

NOV Price Performance

Shares of NYSE:NOV opened at $18.01 on Friday. NOV Inc. has a 1-year low of $14.85 and a 1-year high of $21.91. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The stock has a market cap of $7.12 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. The stock’s fifty day simple moving average is $18.44 and its two-hundred day simple moving average is $18.82.

NOV (NYSE:NOV) last released its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.03. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. As a group, analysts forecast that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 annualized dividend and a dividend yield of 1.67%. NOV’s dividend payout ratio is currently 12.05%.

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.