Schroder Investment Management Group Reduces Stock Holdings in NOV Inc. (NYSE:NOV)

Schroder Investment Management Group lessened its stake in shares of NOV Inc. (NYSE:NOV) by 30.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 584,012 shares of the oil and gas exploration company’s stock after selling 257,326 shares during the quarter. Schroder Investment Management Group owned about 0.15% of NOV worth $8,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its stake in NOV by 10.8% in the fourth quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after buying an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. boosted its stake in NOV by 61.7% during the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the period. Barclays PLC grew its position in NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Weiss Asset Management LP acquired a new position in NOV in the third quarter valued at $35,709,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of NOV by 10.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after buying an additional 1,656 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on NOV shares. Barclays boosted their price target on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Atb Cap Markets downgraded NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler boosted their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Raymond James raised their target price on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research note on Monday, March 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $19.60.

NOV Stock Down 10.9 %

NOV opened at $11.92 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The company has a market cap of $4.54 billion, a price-to-earnings ratio of 7.40, a PEG ratio of 1.02 and a beta of 1.34. NOV Inc. has a one year low of $11.66 and a one year high of $21.20. The business’s fifty day moving average is $14.91 and its two-hundred day moving average is $15.34.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s payout ratio is currently 18.63%.

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.