253,146 Shares in NOV Inc. (NYSE:NOV) Bought by Neo Ivy Capital Management

by · The Cerbat Gem

Neo Ivy Capital Management purchased a new stake in shares of NOV Inc. (NYSE:NOV – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing 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.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. CSS LLC IL purchased a new stake in NOV in the fourth quarter worth about $400,000. Tidal Investments LLC increased its position in NOV by 239.6% in the fourth quarter. Tidal Investments LLC now owns 71,995 shares of the oil and gas exploration company’s stock worth $1,051,000 after buying an additional 50,795 shares in the last quarter. Teza Capital Management LLC bought a new position in shares of NOV in the fourth quarter worth about $151,000. State of Wyoming boosted its stake in shares of NOV by 79.6% in the fourth quarter. State of Wyoming now owns 12,563 shares of the oil and gas exploration company’s stock worth $183,000 after acquiring an additional 5,568 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of NOV by 6.1% in the fourth quarter. ProShare Advisors LLC now owns 18,204 shares of the oil and gas exploration company’s stock worth $266,000 after acquiring an additional 1,042 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 0.1%

NOV opened at $12.18 on Friday. The stock’s fifty day moving average is $12.94 and its two-hundred day moving average is $14.42. The company has a market capitalization of $4.58 billion, a P/E ratio of 7.57, a PEG ratio of 1.02 and a beta of 1.27. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV – Get Free Report) last released 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 analysts’ expectations of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. Analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

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

Analyst Ratings Changes

NOV has been the subject of a number of recent analyst reports. Morgan Stanley dropped their price objective on NOV from $18.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Stifel Nicolaus dropped their price objective on NOV from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company increased 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. JPMorgan Chase & Co. dropped their price target on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada dropped their price target on NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Three equities 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 stock. Based on data from MarketBeat, NOV has an average rating of “Hold” and an average target price of $17.50.

Get Our Latest Stock Report on NOV

NOV Company Profile

(Free Report)

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.

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