Semanteon Capital Management LP Invests $1.15 Million in NOV Inc. (NYSE:NOV)

Semanteon Capital Management LP acquired a new stake in shares of NOV Inc. (NYSE:NOV) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 71,882 shares of the oil and gas exploration company’s stock, valued at approximately $1,148,000.

A number of other institutional investors also recently bought and sold shares of the company. Pzena Investment Management LLC increased its position in shares of NOV by 0.3% during the 2nd quarter. Pzena Investment Management LLC now owns 35,175,886 shares of the oil and gas exploration company’s stock valued at $668,694,000 after purchasing an additional 103,238 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock valued at $230,743,000 after buying an additional 3,470,860 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after buying an additional 3,989,095 shares during the last quarter. Boston Partners purchased a new position in shares of NOV during the 1st quarter worth $119,686,000. Finally, AQR Capital Management LLC grew its position in shares of NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after acquiring an additional 3,418,885 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NOV. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of NOV in a research report on Monday, July 29th. Wells Fargo & Company cut NOV from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $20.00 to $16.00 in a research report on Wednesday, September 25th. TD Cowen reduced their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday. Citigroup lowered their price target on shares of NOV from $24.00 to $21.00 and set a “buy” rating on the stock in a report on Thursday, October 3rd. Finally, Piper Sandler dropped their price objective on NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.07.

NOV Price Performance

Shares of NOV traded up $0.01 during mid-day trading on Monday, hitting $15.73. 227,127 shares of the stock were exchanged, compared to its average volume of 3,703,425. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The company has a market cap of $6.19 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.67. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23. The firm has a 50-day moving average of $16.50 and a two-hundred day moving average of $17.82.

NOV (NYSE:NOV) last released its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. NOV’s revenue was up 5.9% on a year-over-year basis. On average, equities analysts predict that NOV Inc. will post 1.6 earnings per share for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date was Friday, September 13th. NOV’s dividend payout ratio (DPR) is 11.24%.

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.