KBC Group NV Grows Stock Holdings in NOV Inc. (NYSE:NOV)

KBC Group NV raised its stake in shares of NOV Inc. (NYSE:NOV) by 61.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,832 shares of the oil and gas exploration company’s stock after buying an additional 6,772 shares during the quarter. KBC Group NV’s holdings in NOV were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Pzena Investment Management LLC raised its stake in NOV by 22.3% during the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings 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 valued at $593,336,000 after purchasing an additional 6,963,660 shares during the period. Greenhaven Associates Inc. raised its position in NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of NOV by 3.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,113,452 shares of the oil and gas exploration company’s stock worth $49,722,000 after buying an additional 91,013 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in shares of NOV by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock worth $46,760,000 after buying an additional 55,056 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. The trade was a 1.58 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

NOV has been the subject of several recent research reports. Barclays lowered their price objective on shares of NOV from $16.00 to $12.00 and set an “underweight” rating for the company in a research note on Wednesday, December 18th. BMO Capital Markets lowered their price target on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Susquehanna dropped their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, Bank of America dropped their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $20.00.

NOV Stock Performance

Shares of NOV stock opened at $14.31 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The business has a fifty day moving average of $14.95 and a 200 day moving average of $16.19. The firm has a market capitalization of $5.57 billion, a price-to-earnings ratio of 5.28, a price-to-earnings-growth ratio of 0.93 and a beta of 1.64. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.075 dividend. The ex-dividend date was Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 2.10%. NOV’s dividend payout ratio is currently 11.07%.

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.