NOV Inc. (NYSE:NOV) Stock Position Raised by Greenhaven Associates Inc.

Greenhaven Associates Inc. grew its stake in shares of NOV Inc. (NYSE:NOV) by 61.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,291,042 shares of the oil and gas exploration company’s stock after purchasing an additional 1,255,666 shares during the period. NOV comprises about 0.7% of Greenhaven Associates Inc.’s holdings, making the stock its 15th biggest holding. Greenhaven Associates Inc. owned 0.85% of NOV worth $48,049,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quarry LP acquired a new position in NOV during the third quarter valued at $36,000. UMB Bank n.a. increased its stake in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares during the period. American National Bank & Trust purchased a new stake in NOV in the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC grew its holdings in shares of NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 2,735 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new position in shares of NOV in the third quarter worth $48,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen dropped their target price on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Barclays cut their price objective on shares of NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a research report on Wednesday, December 18th. Piper Sandler assumed coverage on shares of NOV in a research report on Thursday, December 19th. They issued a “neutral” rating and a $17.00 target price for the company. Susquehanna cut their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. Finally, Bank of America decreased their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $20.00.

NOV Stock Performance

Shares of NYSE NOV opened at $15.53 on Wednesday. The firm has a market capitalization of $6.04 billion, a price-to-earnings ratio of 5.73, a PEG ratio of 0.99 and a beta of 1.66. NOV Inc. has a one year low of $13.94 and a one year high of $21.23. The business has a fifty day simple moving average of $15.24 and a 200 day simple moving average of $16.44. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.93%. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.85% of the company’s stock.

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.