GSA Capital Partners LLP Buys 163,965 Shares of NOV Inc. $NOV

GSA Capital Partners LLP lifted its stake in shares of NOV Inc. (NYSE:NOV) by 417.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 203,251 shares of the oil and gas exploration company’s stock after purchasing an additional 163,965 shares during the quarter. GSA Capital Partners LLP’s holdings in NOV were worth $2,693,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NOV. Arizona State Retirement System grew its holdings in shares of NOV by 0.6% during the third quarter. Arizona State Retirement System now owns 111,185 shares of the oil and gas exploration company’s stock worth $1,473,000 after purchasing an additional 678 shares during the last quarter. Truist Financial Corp boosted its position in NOV by 7.6% during the 3rd quarter. Truist Financial Corp now owns 11,759 shares of the oil and gas exploration company’s stock worth $156,000 after buying an additional 827 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in NOV by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,738 shares of the oil and gas exploration company’s stock worth $89,000 after buying an additional 1,359 shares during the period. denkapparat Operations GmbH grew its holdings in NOV by 14.2% during the 2nd quarter. denkapparat Operations GmbH now owns 12,834 shares of the oil and gas exploration company’s stock worth $160,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Profund Advisors LLC increased its position in NOV by 4.8% in the 2nd quarter. Profund Advisors LLC now owns 35,169 shares of the oil and gas exploration company’s stock valued at $437,000 after acquiring an additional 1,611 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christian S. Kendall purchased 70,000 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The shares were acquired at an average cost of $14.46 per share, with a total value of $1,012,200.00. Following the purchase, the director owned 85,949 shares in the company, valued at $1,242,822.54. This represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.85% of the company’s stock.

NOV Price Performance

NOV stock opened at $19.21 on Tuesday. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of 50.55 and a beta of 0.93. NOV Inc. has a 52-week low of $10.84 and a 52-week high of $19.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.67 and a current ratio of 2.42. The stock’s 50 day moving average price is $17.37 and its two-hundred day moving average price is $14.99.

NOV (NYSE:NOV) last released its earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share (EPS) 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 analyst estimates of $2.17 billion. NOV had a net margin of 1.66% and a return on equity of 3.57%. The firm’s revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. On average, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a $0.075 dividend. The ex-dividend date was Friday, December 5th. This represents a $0.30 annualized dividend and a dividend yield of 1.6%. NOV’s dividend payout ratio (DPR) is currently 78.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NOV. Piper Sandler increased their price objective on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, February 9th. Argus upgraded NOV to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a report on Monday, December 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $21.00 target price on shares of NOV in a research report on Thursday, January 15th. Finally, TD Cowen reaffirmed a “buy” rating on shares of NOV in a research note on Friday, February 6th. Six equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $18.40.

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.