2,216,962 Shares in NOV Inc. (NYSE:NOV) Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired 2,216,962 shares of NOV Inc. (NYSE:NOV) for approximately $33.7 million, giving it a stake of about 0.59% in the oil and gas company.
• NOV reported a quarterly earnings per share (EPS) of $0.29, which was below analysts' expectations, and its revenue for the quarter was $2.19 billion, slightly above forecasts but down 1.3% year-over-year.
• The company declared a quarterly dividend of $0.075 per share, translating to an annual yield of 2.5%, with the next payment scheduled for September 26th.

Nuveen LLC bought a new position in shares of NOV Inc. (NYSE:NOV - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,216,962 shares of the oil and gas exploration company's stock, valued at approximately $33,742,000. Nuveen LLC owned approximately 0.59% of NOV as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in NOV. Pzena Investment Management LLC lifted its position in shares of NOV by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock valued at $632,610,000 after acquiring an additional 106,011 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of NOV by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 39,463,027 shares of the oil and gas exploration company's stock valued at $600,627,000 after acquiring an additional 566,160 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NOV by 13.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after acquiring an additional 1,934,243 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of NOV by 40.7% in the 4th quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after acquiring an additional 1,652,917 shares in the last quarter. Finally, Greenhaven Associates Inc. lifted its position in NOV by 25.0% in the 1st quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company's stock worth $62,617,000 after buying an additional 823,115 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NYSE:NOV opened at $12.19 on Friday. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $18.40. The firm's fifty day simple moving average is $13.01 and its 200 day simple moving average is $13.38. The company has a current ratio of 2.58, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $4.53 billion, a PE ratio of 9.99, a PEG ratio of 3.38 and a beta of 1.32.

NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The firm had revenue of $2.19 billion during the quarter, compared to analyst estimates of $2.16 billion. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. On average, sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, September 12th. NOV's dividend payout ratio (DPR) is currently 24.59%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NOV shares. Morgan Stanley cut their target price on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. JPMorgan Chase & Co. downgraded shares of NOV from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $17.00 to $15.00 in a research report on Wednesday, July 30th. Evercore ISI cut their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating for the company in a research report on Wednesday, July 30th. Barclays cut their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus cut their target price on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $16.56.

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.

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