Proficio Capital Partners LLC Invests $341,000 in NOV Inc. (NYSE:NOV)

Proficio Capital Partners LLC acquired a new stake in shares of NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 23,331 shares of the oil and gas exploration company’s stock, valued at approximately $341,000.

A number of other hedge funds also recently made changes to their positions in the stock. UMB Bank n.a. raised its position in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP bought a new position in shares of NOV during the 3rd quarter valued at about $36,000. R Squared Ltd purchased a new position in shares of NOV during the 4th quarter valued at about $44,000. Brooklyn Investment Group bought a new stake in NOV in the 3rd quarter worth approximately $48,000. Finally, Quest Partners LLC purchased a new stake in NOV in the third quarter worth approximately $96,000. 93.27% of the stock is owned by institutional investors.

NOV Price Performance

NOV opened at $15.47 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The stock has a market capitalization of $5.89 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The stock’s 50 day moving average price is $15.00 and its 200-day moving average price is $15.40. NOV Inc. has a 52-week low of $13.78 and a 52-week high of $21.20.

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

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 1.94%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Wall Street Analyst Weigh In

Several research firms have commented on NOV. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday. ATB Capital reiterated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research report on Tuesday, December 10th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $19.60.

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.