Innealta Capital LLC Purchases 5,140 Shares of NOV Inc. (NYSE:NOV)

Innealta Capital LLC boosted its position in shares of NOV Inc. (NYSE:NOV) by 49.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,448 shares of the oil and gas exploration company’s stock after purchasing an additional 5,140 shares during the period. Innealta Capital LLC’s holdings in NOV were worth $247,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. Mather Group LLC. increased its stake in NOV by 17.2% in the 2nd quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock worth $111,000 after buying an additional 839 shares during the period. GAMMA Investing LLC raised its stake in shares of NOV by 18.2% during the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock valued at $104,000 after acquiring an additional 848 shares in the last quarter. Quadrature Capital Ltd boosted its holdings in shares of NOV by 3.1% in the first quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock valued at $576,000 after purchasing an additional 889 shares during the period. Truist Financial Corp grew its stake in NOV by 3.4% in the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after purchasing an additional 991 shares in the last quarter. Finally, HM Payson & Co. increased its holdings in NOV by 2.1% during the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after purchasing an additional 1,000 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOV. TD Cowen lowered their target price on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Bank of America cut their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler lowered their price target on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price objective on shares of NOV in a report on Monday, July 29th. Finally, Wells Fargo & Company lowered NOV from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $20.00 to $16.00 in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NOV has a consensus rating of “Moderate Buy” and an average price target of $21.93.

NOV Stock Performance

NOV opened at $15.17 on Monday. The firm’s 50-day moving average price is $16.26 and its 200-day moving average price is $17.69. The company has a market cap of $5.90 billion, a P/E ratio of 5.60, a price-to-earnings-growth ratio of 0.89 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.98%. NOV’s dividend payout ratio is currently 11.07%.

About NOV

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.