NOV Inc. $NOV is Oldfield Partners LLP’s Largest Position

Oldfield Partners LLP increased its position in NOV Inc. (NYSE:NOV) by 5.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 5,045,332 shares of the oil and gas exploration company’s stock after acquiring an additional 276,961 shares during the quarter. NOV makes up approximately 22.4% of Oldfield Partners LLP’s holdings, making the stock its largest holding. Oldfield Partners LLP’s holdings in NOV were worth $78,859,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in NOV by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 18,578,053 shares of the oil and gas exploration company’s stock valued at $246,159,000 after purchasing an additional 161,414 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of NOV by 43.6% in the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock worth $100,654,000 after buying an additional 2,304,975 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of NOV by 15.1% during the third quarter. First Trust Advisors LP now owns 7,008,337 shares of the oil and gas exploration company’s stock valued at $92,860,000 after buying an additional 917,242 shares during the last quarter. Greenhaven Associates Inc. grew its holdings in shares of NOV by 15.4% during the third quarter. Greenhaven Associates Inc. now owns 5,747,682 shares of the oil and gas exploration company’s stock valued at $76,157,000 after buying an additional 765,166 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of NOV by 14.8% during the third quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock valued at $70,839,000 after acquiring an additional 689,427 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Trading Up 3.4%

Shares of NOV stock opened at $19.32 on Tuesday. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $20.85. The stock has a market capitalization of $6.96 billion, a P/E ratio of 50.85 and a beta of 0.89. The firm’s 50 day moving average is $18.94 and its 200 day moving average is $16.19.

NOV (NYSE:NOV) last announced its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The company had revenue of $2.28 billion for the quarter, compared to analysts’ expectations of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. NOV’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.41 earnings per share. Research analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.9%. This is a boost from NOV’s previous quarterly dividend of $0.08. The ex-dividend date is Friday, March 13th. NOV’s dividend payout ratio (DPR) is currently 94.74%.

Analyst Ratings Changes

NOV has been the topic of several analyst reports. Piper Sandler upped their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 9th. TD Cowen lowered NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research note on Monday, December 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $21.00 price target on shares of NOV in a report on Thursday, January 15th. Finally, Evercore set a $19.00 price objective on NOV in a research report on Friday, February 6th. Five equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $18.57.

Insider Transactions at NOV

In other NOV news, insider Joseph W. Rovig sold 151,086 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.17, for a total value of $3,047,404.62. Following the transaction, the insider owned 269,694 shares of the company’s stock, valued at approximately $5,439,727.98. This represents a 35.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Craig L. Weinstock sold 70,000 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the completion of the transaction, the vice president directly owned 256,319 shares in the company, valued at $5,146,885.52. The trade was a 21.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.85% of the stock is currently owned by corporate insiders.

About NOV

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.