NOV Inc. (NYSE:NOV) is Heartland Advisors Inc.’s 8th Largest Position

Heartland Advisors Inc. decreased its holdings in NOV Inc. (NYSE:NOV) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,722,786 shares of the oil and gas exploration company’s stock after selling 214,868 shares during the period. NOV makes up approximately 1.4% of Heartland Advisors Inc.’s investment portfolio, making the stock its 8th largest position. Heartland Advisors Inc.’s holdings in NOV were worth $25,153,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NOV. UMB Bank n.a. raised its holdings in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. Quarry LP acquired a new position in shares of NOV in the third quarter worth $36,000. Signaturefd LLC increased its holdings in NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 756 shares during the period. CoreFirst Bank & Trust purchased a new stake in shares of NOV during the fourth quarter worth approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of NOV in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NYSE NOV opened at $15.27 on Friday. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The stock’s 50-day moving average price is $15.01 and its two-hundred day moving average price is $15.40. The company has a market cap of $5.81 billion, a PE ratio of 9.48, a PEG ratio of 1.02 and a beta of 1.66. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued its earnings results 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%. On average, analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend payout ratio is 18.63%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on NOV shares. Raymond James raised their price objective on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Piper Sandler lifted their price target on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a research report on Monday. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, ATB Capital reissued a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, NOV presently has a consensus rating of “Hold” and a consensus price target of $19.60.

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.