Pacer Advisors Inc. Grows Position in NOV Inc. (NYSE:NOV)

Pacer Advisors Inc. raised its position in shares of NOV Inc. (NYSE:NOV) by 12,344.0% during the 4th quarter, Holdings Channel reports. The fund owned 12,309,433 shares of the oil and gas exploration company’s stock after purchasing an additional 12,210,514 shares during the period. Pacer Advisors Inc.’s holdings in NOV were worth $179,718,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOV. UMB Bank n.a. increased its position in NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares during the last quarter. Quarry LP bought a new stake in shares of NOV in the 3rd quarter worth about $36,000. American National Bank & Trust purchased a new stake in shares of NOV during the 3rd quarter valued at about $39,000. International Assets Investment Management LLC lifted its holdings in shares of NOV by 1,590.1% in 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 during the last quarter. Finally, Brooklyn Investment Group purchased a new position in NOV in the third quarter worth about $48,000. 93.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NOV shares. BMO Capital Markets cut their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Piper Sandler initiated coverage on shares of NOV in a research note on Thursday, December 19th. They set a “neutral” rating and a $17.00 price objective for the company. JPMorgan Chase & Co. reduced their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Susquehanna dropped their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Finally, Bank of America reduced their price objective 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. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $20.00.

Insiders Place Their Bets

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 sale, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.85% of the stock is owned by company insiders.

NOV Price Performance

Shares of NOV stock opened at $14.87 on Monday. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.23. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The stock has a fifty day simple moving average of $15.16 and a two-hundred day simple moving average of $16.38. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 5.49, a P/E/G ratio of 0.95 and a beta of 1.66.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 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.