Geode Capital Management LLC Has $106.14 Million Stock Holdings in NOV Inc. $NOV

Geode Capital Management LLC cut its position in NOV Inc. (NYSE:NOV) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,789,483 shares of the oil and gas exploration company’s stock after selling 235,023 shares during the period. Geode Capital Management LLC owned about 1.86% of NOV worth $106,142,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of NOV during the fourth quarter worth $28,000. Allworth Financial LP boosted its stake in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 709 shares during the period. Fifth Third Bancorp boosted its stake in NOV by 88.4% in the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock worth $67,000 after purchasing an additional 2,385 shares during the period. Exchange Traded Concepts LLC acquired a new position in NOV in the 4th quarter worth $68,000. Finally, Horizon Investments LLC acquired a new position in NOV in the 4th quarter worth $68,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Trading Down 6.2%

Shares of NYSE:NOV opened at $20.13 on Friday. The company’s 50-day moving average price is $19.97 and its two-hundred day moving average price is $18.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. NOV Inc. has a one year low of $11.77 and a one year high of $21.55. The stock has a market capitalization of $7.22 billion, a PE ratio of 83.86 and a beta of 0.89.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the firm earned $0.19 earnings per share. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts forecast that NOV Inc. will post 0.91 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a yield of 180.0%. NOV’s payout ratio is 150.00%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NOV shares. Royal Bank Of Canada upped their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Friday, March 27th. Piper Sandler upped their target price on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 9th. Stifel Nicolaus upped their target price on shares of NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Evercore raised shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.43.

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.