Bank Julius Baer & Co. Ltd Zurich Takes $42,000 Position in NOV Inc. (NYSE:NOV)

Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV Inc. (NYSE:NOV) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 2,592 shares of the oil and gas exploration company’s stock, valued at approximately $42,000.

A number of other hedge funds also recently added to or reduced their stakes in NOV. UMB Bank n.a. increased its position in shares of 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 worth $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP purchased a new position in NOV in the third quarter valued at $36,000. R Squared Ltd acquired a new position in NOV during the 4th quarter worth $44,000. Brooklyn Investment Group purchased a new stake in NOV during the 3rd quarter worth about $48,000. Finally, Quest Partners LLC acquired a new stake in NOV in the 3rd quarter valued at about $96,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 3.7 %

NOV stock opened at $14.25 on Wednesday. The stock has a 50-day simple moving average of $15.01 and a 200-day simple moving average of $15.60. The company has a market capitalization of $5.42 billion, a P/E ratio of 8.85, a PEG ratio of 1.02 and a beta of 1.66. 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 fifty-two week low of $13.78 and a fifty-two 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 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%. Equities research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

Wall Street Analysts Forecast Growth

NOV has been the subject of a number of analyst reports. Seaport Res Ptn downgraded NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Evercore ISI reiterated an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays lifted their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Finally, Piper Sandler boosted their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Two research 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. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.60.

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.