Allianz SE Buys Shares of 57,414 NOV Inc. (NYSE:NOV)

Allianz SE purchased a new position in NOV Inc. (NYSE:NOV) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 57,414 shares of the oil and gas exploration company’s stock, valued at approximately $838,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. UMB Bank n.a. boosted its holdings 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 valued at $34,000 after acquiring an additional 1,612 shares during the period. Quarry LP acquired a new stake in shares of NOV in the third quarter valued at approximately $36,000. Signaturefd LLC increased its stake in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of NOV during the fourth quarter valued at approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in NOV in the 4th quarter worth approximately $42,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NOV. Piper Sandler boosted their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a report on Monday, March 24th. Evercore ISI restated an “in-line” rating and set a $18.00 price target (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Seaport Res Ptn cut shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Finally, Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.60.

NOV Stock Performance

NOV stock opened at $14.96 on Monday. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The firm’s 50 day simple moving average is $15.00 and its 200-day simple moving average is $15.39. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The company has a market cap of $5.70 billion, a P/E ratio of 9.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share 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 predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s 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.