Neo Ivy Capital Management Purchases New Stake in NOV Inc. (NYSE:NOV)

Neo Ivy Capital Management purchased a new stake in NOV Inc. (NYSE:NOV) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 253,146 shares of the oil and gas exploration company’s stock, valued at approximately $3,695,000. Neo Ivy Capital Management owned approximately 0.07% of NOV as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pacer Advisors Inc. grew its holdings in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares during the last quarter. First Pacific Advisors LP bought a new stake in shares of NOV during the fourth quarter worth about $39,495,000. Dimensional Fund Advisors LP grew its holdings in shares of NOV by 13.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after purchasing an additional 1,934,243 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of NOV by 85.9% during the fourth quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company’s stock worth $55,248,000 after purchasing an additional 1,748,816 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of NOV by 40.7% during the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock worth $83,489,000 after purchasing an additional 1,652,917 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

NOV opened at $12.18 on Friday. The stock’s 50 day simple moving average is $12.94 and its 200 day simple moving average is $14.42. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 7.57, a PEG ratio of 1.02 and a beta of 1.27.

NOV (NYSE:NOV) last issued its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. NOV’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Friday, June 13th. NOV’s payout ratio is 20.00%.

Analyst Ratings Changes

NOV has been the topic of several research reports. Morgan Stanley reduced their price target on NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Piper Sandler dropped their price target on NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company boosted their price target on NOV from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Raymond James upped their target price on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Finally, Stifel Nicolaus lowered their target price on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $17.50.

About NOV

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.