Amundi Grows Stake in NOV Inc. (NYSE:NOV)

Amundi lifted its stake in NOV Inc. (NYSE:NOV) by 313.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 311,071 shares of the oil and gas exploration company’s stock after buying an additional 235,771 shares during the period. Amundi’s holdings in NOV were worth $4,548,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. KBC Group NV boosted its holdings in NOV by 11.8% in the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after acquiring an additional 1,163 shares during the period. Verum Partners LLC lifted its position in shares of NOV by 9.0% during the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after purchasing an additional 1,248 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of NOV by 222.3% in 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 during the period. Wealth Enhancement Advisory Services LLC grew its holdings in NOV by 10.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its stake in NOV by 3.5% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after buying an additional 2,040 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOV. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Barclays increased their target price on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Seaport Res Ptn lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Finally, Piper Sandler increased 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, NOV currently has an average rating of “Hold” and a consensus price target of $19.60.

NOV Trading Up 2.1 %

Shares of NOV stock opened at $14.29 on Friday. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The stock has a fifty day moving average of $14.97 and a two-hundred day moving average of $15.53. 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 firm has a market capitalization of $5.44 billion, a PE ratio of 8.87, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

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

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

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.