Heartland Advisors Inc. Has $25.15 Million Holdings in NOV Inc. (NYSE:NOV)

Heartland Advisors Inc. reduced its holdings in shares of NOV Inc. (NYSE:NOV) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,722,786 shares of the oil and gas exploration company’s stock after selling 214,868 shares during the period. NOV accounts for about 1.4% of Heartland Advisors Inc.’s investment portfolio, making the stock its 8th largest holding. Heartland Advisors Inc. owned about 0.44% of NOV worth $25,153,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in NOV. Signaturefd LLC boosted its holdings in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 756 shares during the last quarter. Verum Partners LLC raised its holdings in NOV by 9.0% in the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock worth $220,000 after purchasing an additional 1,248 shares during the period. UMB Bank n.a. raised its stake in shares of 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 buying an additional 1,612 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company’s stock valued at $271,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. lifted its stake in shares of NOV by 3.5% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock valued at $874,000 after buying an additional 2,040 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NOV has been the subject of several recent analyst reports. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target for the company in a research note on Monday. Raymond James boosted their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. ATB Capital reissued a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Piper Sandler raised their price target on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $19.60.

NOV Price Performance

Shares of NYSE NOV opened at $15.27 on Friday. The firm’s 50 day simple moving average is $15.01 and its 200-day simple moving average is $15.40. NOV Inc. has a 12 month low of $13.78 and a 12 month high of $21.20. The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 1.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is currently 18.63%.

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.