NOV’s EBITDA Grew 250% YOY in Q4

Artisan Partners, an investment management company, released its “Artisan Global Equity Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTHX returned 15.95%, Advisor Class fund APDHX posted a return of 15.98%, and Institutional Class fund APHHX returned 16.04%, compared to a return of 9.76% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Global Equity Fund highlighted stocks like NOV Inc. (NYSE:NOV) in the Q4 2022 investor letter. Headquartered in Houston, Texas, NOV Inc. (NYSE:NOV) is an equipment and components manufacturer for oil and gas drilling and production. On March 16, 2023, NOV Inc. (NYSE:NOV) stock closed at $18.16 per share. One-month return of NOV Inc. (NYSE:NOV) was -16.20%, and its shares lost 6.05% of their value over the last 52 weeks. NOV Inc. (NYSE:NOV) has a market capitalization of $7.134 billion.

Artisan Global Equity Fund made the following comment about NOV Inc. (NYSE:NOV) in its Q4 2022 investor letter:

“The other oil industry equipment and technology company in the portfolio, NOV Inc. (NYSE:NOV), saw its share price go up on surging revenues that beat consensus estimates on widening operating margins and EBITDA up 250% year-over-year. Growing demand from international and offshore markets increased capital investment in drilling and production infrastructure, which benefited NOV this quarter. We sold the position given that it achieved target valuation.”

NOV Inc. (NYSE:NOV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held NOV Inc. (NYSE:NOV) at the end of the fourth quarter which was 22 in the previous quarter.

We discussed NOV Inc. (NYSE:NOV) in another article and shared the list of best performing growth stocks in 2022. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.