NOV Inc. (NYSE:NOV) Holdings Raised by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its stake in NOV Inc. (NYSE:NOV) by 40.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,138,093 shares of the oil and gas exploration company’s stock after purchasing an additional 3,470,860 shares during the quarter. Dimensional Fund Advisors LP owned approximately 3.07% of NOV worth $230,743,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wedmont Private Capital increased its position in shares of NOV by 5.2% in the first quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock worth $263,000 after acquiring an additional 643 shares in the last quarter. Mather Group LLC. raised its position in NOV by 17.2% during the second quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after buying an additional 839 shares during the period. GAMMA Investing LLC lifted its stake in NOV by 18.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock worth $104,000 after acquiring an additional 848 shares in the last quarter. Quadrature Capital Ltd boosted its position in NOV by 3.1% during the 1st quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock worth $576,000 after acquiring an additional 889 shares during the period. Finally, Park Avenue Securities LLC grew its stake in NOV by 7.5% during the 1st quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock valued at $332,000 after acquiring an additional 1,194 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

NOV has been the subject of a number of research analyst reports. Bank of America reduced their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Evercore ISI upgraded NOV to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research note on Monday, July 29th. Benchmark reaffirmed a “hold” rating on shares of NOV in a research note on Friday, July 26th. 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 research note on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, NOV presently has a consensus rating of “Moderate Buy” and an average target price of $24.42.

NOV Price Performance

Shares of NOV stock opened at $16.44 on Thursday. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $17.94 and a 200-day simple moving average of $18.39. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of 6.60, a PEG ratio of 0.47 and a beta of 1.67. NOV Inc. has a 1-year low of $15.47 and a 1-year high of $21.71.

NOV (NYSE:NOV) last released its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.39 EPS. On average, sell-side analysts expect that NOV Inc. will post 1.63 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend is Friday, September 13th. NOV’s dividend payout ratio is currently 12.05%.

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.