Venturi Wealth Management LLC Makes New $141,000 Investment in NOV Inc. (NYSE:NOV)

Venturi Wealth Management LLC bought a new position in shares of NOV Inc. (NYSE:NOV) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 9,659 shares of the oil and gas exploration company’s stock, valued at approximately $141,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in NOV. Pzena Investment Management LLC boosted its position in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after acquiring an additional 7,851,220 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after acquiring an additional 6,963,660 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock worth $75,658,000 after acquiring an additional 938,866 shares in the last quarter. Finally, Greenhaven Associates Inc. boosted its position in shares of 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 acquiring an additional 1,255,666 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

NOV has been the topic of several analyst reports. Evercore ISI reiterated an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Wells Fargo & Company reduced their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. Barclays increased their price target on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Piper Sandler increased 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. Finally, 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. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

NOV Trading Down 2.2 %

NOV opened at $15.10 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.75 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.02 and a beta of 1.64. The company has a fifty day moving average of $14.95 and a 200-day moving average of $15.87. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.20.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping 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%. On average, sell-side analysts predict that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s dividend 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.