Van ECK Associates Corp Has $75.66 Million Holdings in NOV Inc. (NYSE:NOV)

Van ECK Associates Corp boosted its stake in shares of NOV Inc. (NYSE:NOV) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,182,044 shares of the oil and gas exploration company’s stock after purchasing an additional 938,866 shares during the quarter. Van ECK Associates Corp owned 1.33% of NOV worth $75,658,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of NOV. Sanctuary Advisors LLC acquired a new position in NOV during the 2nd quarter valued at $285,000. nVerses Capital LLC acquired a new position in NOV during the 3rd quarter valued at $487,000. DiNuzzo Private Wealth Inc. raised its stake in NOV by 10,701.6% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 6,913 shares of the oil and gas exploration company’s stock valued at $110,000 after purchasing an additional 6,849 shares during the last quarter. Blue Trust Inc. raised its stake in NOV by 851.1% during the 3rd quarter. Blue Trust Inc. now owns 5,859 shares of the oil and gas exploration company’s stock valued at $94,000 after purchasing an additional 5,243 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of NOV by 3.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 3,113,452 shares of the oil and gas exploration company’s stock valued at $49,722,000 after buying an additional 91,013 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.85% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of recent research reports. TD Cowen dropped their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Evercore ISI restated an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Stifel Nicolaus dropped their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Susquehanna dropped their price objective on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Finally, Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, NOV has an average rating of “Hold” and an average target price of $19.53.

NOV Price Performance

Shares of NOV stock opened at $15.92 on Friday. NOV Inc. has a 1 year low of $13.94 and a 1 year high of $21.20. The company has a current ratio of 2.46, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $14.91 and its 200-day moving average is $16.05. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.00 and a beta of 1.64.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Sell-side analysts forecast that NOV Inc. will post 1.42 EPS for the current fiscal year.

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.