Proficio Capital Partners LLC Acquires Shares of 23,331 NOV Inc. (NYSE:NOV)

Proficio Capital Partners LLC purchased a new position in NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 23,331 shares of the oil and gas exploration company’s stock, valued at approximately $341,000.

Other hedge funds also recently bought and sold shares of the company. Quarry LP bought a new position in NOV in the 3rd quarter worth about $36,000. UMB Bank n.a. boosted its stake in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Brooklyn Investment Group bought a new position in NOV in the 3rd quarter worth about $48,000. R Squared Ltd bought a new position in NOV in the 4th quarter worth about $44,000. Finally, Quest Partners LLC bought a new position in NOV in the 3rd quarter worth about $96,000. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI reissued an “in-line” rating and issued a $18.00 target price (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Piper Sandler boosted their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Trading Down 1.2 %

NOV stock opened at $14.78 on Tuesday. NOV Inc. has a 12-month low of $13.78 and a 12-month high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 1.02 and a beta of 1.66. The firm has a 50 day moving average of $15.01 and a 200 day moving average of $15.62.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating 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%. As a group, research analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.03%. NOV’s dividend payout ratio is currently 18.63%.

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.