Gotham Asset Management LLC Grows Holdings in NOV Inc. (NYSE:NOV)

Gotham Asset Management LLC grew its stake in NOV Inc. (NYSE:NOV) by 502.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 333,941 shares of the oil and gas exploration company’s stock after buying an additional 278,501 shares during the period. Gotham Asset Management LLC’s holdings in NOV were worth $4,876,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of NOV. Barclays PLC grew its stake in NOV by 120.1% in the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after buying an additional 258,392 shares in the last quarter. Tidal Investments LLC grew its stake in NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company’s stock worth $339,000 after buying an additional 3,645 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in NOV by 10.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock worth $271,000 after buying an additional 1,656 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in NOV in the 4th quarter worth approximately $194,000. Finally, Assenagon Asset Management S.A. purchased a new position in NOV in the 4th quarter worth approximately $6,330,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NOV shares. Royal Bank of Canada cut their price target on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Barclays lowered their price objective on shares of NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Raymond James boosted 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. Susquehanna lowered their price objective on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a report on Monday, April 14th. Finally, Evercore ISI restated an “in-line” rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a report on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $18.00.

NOV Stock Performance

Shares of NYSE:NOV opened at $13.06 on Wednesday. The company has a market cap of $4.91 billion, a price-to-earnings ratio of 8.11, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. The company has a 50-day moving average price of $13.20 and a 200-day moving average price of $14.54. 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 Inc. has a 12 month low of $10.84 and a 12 month high of $21.20.

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

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.30%. The ex-dividend date was Friday, March 14th. NOV’s dividend payout ratio (DPR) is 20.00%.

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.