Cambiar Investors LLC Takes Position in NOV Inc. $NOV

Cambiar Investors LLC bought a new position in shares of NOV Inc. (NYSE:NOV) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 116,619 shares of the oil and gas exploration company’s stock, valued at approximately $1,545,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Truist Financial Corp boosted its position in shares of NOV by 7.6% during the 3rd quarter. Truist Financial Corp now owns 11,759 shares of the oil and gas exploration company’s stock worth $156,000 after purchasing an additional 827 shares in the last quarter. Signaturefd LLC raised its stake in NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after buying an additional 931 shares during the period. denkapparat Operations GmbH boosted its holdings in NOV by 14.2% in the second quarter. denkapparat Operations GmbH now owns 12,834 shares of the oil and gas exploration company’s stock worth $160,000 after acquiring an additional 1,600 shares in the last quarter. Profund Advisors LLC grew its stake in NOV by 4.8% in the second quarter. Profund Advisors LLC now owns 35,169 shares of the oil and gas exploration company’s stock valued at $437,000 after acquiring an additional 1,611 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of NOV by 33.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock valued at $82,000 after acquiring an additional 1,658 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

NOV has been the topic of a number of recent research reports. Susquehanna increased their target price on NOV from $17.00 to $20.00 and gave the stock a “positive” rating in a report on Wednesday, January 7th. TD Cowen reaffirmed a “buy” rating on shares of NOV in a research note on Wednesday, January 7th. Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Royal Bank Of Canada restated an “outperform” rating and issued a $21.00 target price on shares of NOV in a report on Thursday, January 15th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and issued a $17.00 price target on shares of NOV in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, NOV has a consensus rating of “Hold” and an average price target of $16.92.

Insider Activity at NOV

In other NOV news, Director Christian S. Kendall purchased 70,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the acquisition, the director owned 85,949 shares of the company’s stock, valued at $1,242,822.54. The trade was a 438.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.85% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $18.92 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.55 and a quick ratio of 1.71. The firm has a 50-day moving average of $16.41 and a 200-day moving average of $14.44. NOV Inc. has a one year low of $10.84 and a one year high of $19.22. The company has a market cap of $6.90 billion, a P/E ratio of 18.92, a P/E/G ratio of 4.93 and a beta of 0.95.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.The company’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities research analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.6%. NOV’s dividend payout ratio is currently 30.00%.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.