NOV Inc. (NYSE:NOV) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC trimmed its holdings in NOV Inc. (NYSE:NOV) by 3.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 41,458,393 shares of the oil and gas exploration company’s stock after selling 1,568,713 shares during the period. NOV comprises 2.1% of Pzena Investment Management LLC’s portfolio, making the stock its 21st biggest holding. Pzena Investment Management LLC owned about 0.11% of NOV worth $605,293,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Quarry LP purchased a new stake in NOV during the third quarter valued at about $36,000. UMB Bank n.a. lifted its stake 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 buying an additional 1,612 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in NOV during the fourth quarter valued at about $42,000. Brooklyn Investment Group purchased a new stake in NOV during the third quarter valued at about $48,000. Finally, R Squared Ltd purchased a new stake in NOV during the fourth quarter valued at about $44,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NOV. Raymond James upped their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler upped their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, ATB Capital restated a “sector perform” rating and set a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.60.

NOV Price Performance

Shares of NOV opened at $14.78 on Tuesday. The firm has a market cap of $5.63 billion, a PE ratio of 9.18, a PEG ratio of 1.02 and a beta of 1.66. The firm’s 50 day moving average price is $15.01 and its 200 day moving average price is $15.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a twelve month low of $13.78 and a twelve month 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 for the quarter, beating 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, research analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal 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 given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, March 14th. NOV’s dividend payout ratio is 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.