Empowered Funds LLC Takes $314,000 Position in NOV Inc. (NYSE:NOV)

Empowered Funds LLC purchased a new position in NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 21,528 shares of the oil and gas exploration company’s stock, valued at approximately $314,000.

Several other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its holdings in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP purchased a new position in NOV in the third quarter worth $36,000. R Squared Ltd bought a new position in shares of NOV during the 4th quarter valued at about $44,000. International Assets Investment Management LLC lifted its holdings in shares of NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares during the last quarter. Finally, Brooklyn Investment Group bought a new stake in NOV in the third quarter worth $48,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of analyst reports. Barclays increased their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. TD Cowen decreased their target price on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Two equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Performance

Shares of NYSE NOV opened at $15.48 on Friday. The stock has a market cap of $5.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.03 and a beta of 1.64. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20. The firm has a fifty day moving average price of $14.95 and a 200-day moving average price of $15.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Equities analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

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.