First Manhattan CO. LLC. Sells 786 Shares of NOV Inc. (NYSE:NOV)

First Manhattan CO. LLC. lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 5.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,995 shares of the oil and gas exploration company’s stock after selling 786 shares during the quarter. First Manhattan CO. LLC.’s holdings in NOV were worth $190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of NOV. Pacer Advisors Inc. lifted its position in NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after purchasing an additional 12,210,514 shares in the last quarter. First Pacific Advisors LP bought a new position in shares of NOV during the 4th quarter valued at approximately $39,495,000. Dimensional Fund Advisors LP increased its holdings in NOV by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company’s stock worth $245,178,000 after acquiring an additional 1,934,243 shares in the last quarter. AQR Capital Management LLC raised its stake in NOV by 85.9% during the 4th quarter. AQR Capital Management LLC now owns 3,784,096 shares of the oil and gas exploration company’s stock worth $55,248,000 after acquiring an additional 1,748,816 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in NOV by 40.7% during the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company’s stock worth $83,489,000 after acquiring an additional 1,652,917 shares during the period. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NOV shares. Susquehanna reduced their price objective on shares of NOV from $21.00 to $19.00 and set a “positive” rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. cut 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. Raymond James raised their price target on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. 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. Finally, Piper Sandler cut their target price on NOV from $18.00 to $16.00 and set a “neutral” rating for the company in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $18.00.

NOV Price Performance

Shares of NOV stock opened at $12.97 on Tuesday. The stock has a market cap of $4.87 billion, a price-to-earnings ratio of 8.05, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. 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 stock has a 50 day moving average price of $13.22 and a 200-day moving average price of $14.55. NOV Inc. has a one year low of $10.84 and a one year high of $21.20.

NOV (NYSE:NOV) last posted 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 firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 earnings per share. Equities analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio is currently 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.