TCW Group Inc. Has $980,000 Holdings in NOV Inc. (NYSE:NOV)

TCW Group Inc. cut its stake in shares of NOV Inc. (NYSE:NOV) by 39.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 67,140 shares of the oil and gas exploration company’s stock after selling 43,058 shares during the period. TCW Group Inc.’s holdings in NOV were worth $980,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NOV. Pacer Advisors Inc. grew its stake in shares of NOV by 12,344.0% during the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares during the period. Pzena Investment Management LLC grew its stake in NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC grew its stake in NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares during the period. Weiss Asset Management LP acquired a new position in NOV in the third quarter valued at about $35,709,000. Finally, Greenhaven Associates Inc. grew its stake in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after acquiring an additional 1,255,666 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NOV has been the subject of a number of research analyst reports. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Raymond James boosted their target price on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler boosted their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Stifel Nicolaus reduced their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company reduced their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.60.

NOV Stock Performance

NOV opened at $15.00 on Tuesday. NOV Inc. has a 52-week low of $13.94 and a 52-week high of $21.20. The firm has a market capitalization of $5.71 billion, a PE ratio of 9.31, a PEG ratio of 1.02 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The business’s 50-day simple moving average is $14.95 and its 200 day simple moving average is $15.84.

NOV (NYSE:NOV) last announced its earnings results 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 return on equity of 9.88% and a net margin of 7.16%. As a group, sell-side analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.00%. NOV’s dividend payout ratio (DPR) is currently 18.63%.

NOV Profile

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.