Savant Capital LLC Buys Shares of 16,000 NOV Inc. (NYSE:NOV)

Savant Capital LLC bought a new stake in shares of NOV Inc. (NYSE:NOV) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 16,000 shares of the oil and gas exploration company’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new stake in shares of NOV in the fourth quarter worth $314,000. Verity Asset Management Inc. purchased a new stake in shares of NOV in the fourth quarter worth $335,000. Trust Point Inc. purchased a new stake in shares of NOV in the fourth quarter worth $183,000. R Squared Ltd purchased a new stake in shares of NOV in the fourth quarter worth $44,000. Finally, Pacer Advisors Inc. increased its stake in shares of NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOV. Evercore ISI reissued an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Stifel Nicolaus dropped their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Susquehanna dropped their target price on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Finally, Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $19.60.

NOV Price Performance

NOV stock opened at $15.62 on Wednesday. The firm has a 50-day moving average price of $14.94 and a 200-day moving average price of $15.91. The firm has a market capitalization of $6.08 billion, a PE ratio of 9.70, a price-to-earnings-growth ratio of 1.00 and a beta of 1.64. The company has a current ratio of 2.46, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. NOV Inc. has a 12-month low of $13.94 and a 12-month high of $21.20.

NOV (NYSE:NOV) last released its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, equities research analysts forecast that NOV Inc. will post 1.42 EPS for the current year.

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.