Algert Global LLC Has $4.30 Million Holdings in NOV Inc. (NYSE:NOV)

Algert Global LLC raised its holdings in shares of NOV Inc. (NYSE:NOV) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 226,234 shares of the oil and gas exploration company’s stock after buying an additional 18,777 shares during the quarter. Algert Global LLC owned about 0.06% of NOV worth $4,301,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NOV. Goldman Sachs Group Inc. increased its position in shares of NOV by 95.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock valued at $17,846,000 after purchasing an additional 429,104 shares during the period. Wintrust Investments LLC increased its position in shares of NOV by 631.6% during the first quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock valued at $1,600,000 after purchasing an additional 70,743 shares during the period. Stanley Laman Group Ltd. bought a new stake in shares of NOV during the second quarter valued at approximately $4,031,000. Schroder Investment Management Group increased its position in shares of NOV by 71.3% during the fourth quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock valued at $22,154,000 after purchasing an additional 454,665 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in shares of NOV by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,883,885 shares of the oil and gas exploration company’s stock valued at $75,813,000 after purchasing an additional 42,717 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Trading Down 0.1 %

NOV opened at $15.96 on Tuesday. The firm has a 50 day simple moving average of $17.50 and a 200 day simple moving average of $18.31. NOV Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $21.53. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64.

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

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. NOV’s dividend payout ratio is 12.05%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on NOV shares. Bank of America lowered their price objective on NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Evercore ISI upgraded NOV to a “strong-buy” rating in a research report on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of NOV in a research report on Friday, July 26th. Barclays upped their price target on NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a research report on Monday, July 29th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.00.

About NOV

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.