Pacer Advisors Inc. Sells 1,139,301 Shares of NOV Inc. $NOV

Pacer Advisors Inc. decreased its position in NOV Inc. (NYSE:NOV) by 34.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,128,053 shares of the oil and gas exploration company’s stock after selling 1,139,301 shares during the period. Pacer Advisors Inc.’s holdings in NOV were worth $33,261,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of NOV during the 4th quarter worth $28,000. CIBC Private Wealth Group LLC increased its stake in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after buying an additional 1,978 shares during the period. Rothschild Investment LLC raised its holdings in shares of NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares in the last quarter. Allworth Financial LP lifted its stake in NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 709 shares during the period. Finally, Fifth Third Bancorp lifted its stake in NOV by 88.4% in the third quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock worth $67,000 after acquiring an additional 2,385 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $18.64 on Friday. NOV Inc. has a one year low of $11.77 and a one year high of $21.55. The firm has a market cap of $6.69 billion, a price-to-earnings ratio of 77.65 and a beta of 0.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. The firm has a 50-day simple moving average of $20.20 and a two-hundred day simple moving average of $18.79.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts forecast that NOV Inc. will post 0.9 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV’s payout ratio is currently 150.00%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Evercore raised shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research note on Wednesday, June 3rd. Royal Bank Of Canada lifted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a report on Wednesday, April 29th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Finally, Stifel Nicolaus increased their target price on NOV from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $20.57.

NOV Company Profile

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.