66,020 Shares in NOV Inc. $NOV Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 66,020 shares of NOV during the second quarter, valued at approximately $1.225 million. Institutional investors and hedge funds collectively own 93.27% of the company.
• Analysts maintain a consensus “Hold” rating on NOV, with an average price target of $21.31; views range from Capital One’s $26 “overweight” target to Barclays’ $20 “underweight” rating.
• NOV beat quarterly earnings expectations, reporting $0.31 in adjusted EPS versus the $0.17 consensus and $2.13 billion in revenue. The company also declared a quarterly dividend of $0.09 per share, equivalent to a 1.7% annualized yield.

Deutsche Bank AG purchased a new stake in NOV Inc. (NYSE:NOV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 66,020 shares of the oil and gas exploration company's stock, valued at approximately $1,225,000.

Several other hedge funds have also recently bought and sold shares of NOV. Fifth Third Wealth Advisors LLC boosted its stake in shares of NOV by 4.5% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company's stock valued at $235,000 after purchasing an additional 541 shares in the last quarter. Altshuler Shaham Ltd grew its stake in NOV by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 546 shares during the last quarter. Root Financial Partners LLC increased its holdings in shares of NOV by 39.9% during the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock worth $36,000 after buying an additional 552 shares in the last quarter. State of Michigan Retirement System increased its holdings in shares of NOV by 0.7% during the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company's stock worth $1,632,000 after buying an additional 600 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of NOV by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company's stock worth $115,000 after acquiring an additional 611 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Citigroup raised their price target on NOV from $20.00 to $22.00 and gave the company a "neutral" rating in a report on Thursday, June 18th. Capital One Financial upgraded NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 target price on the stock in a report on Thursday, June 4th. The Goldman Sachs Group set a $19.00 target price on NOV in a research note on Wednesday, June 3rd. Zacks Research cut NOV from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. Finally, Barclays reduced their price target on shares of NOV from $21.00 to $20.00 and set an "underweight" rating on the stock in a research report on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $21.31.

NOV Stock Performance

NYSE:NOV opened at $20.99 on Monday. The stock has a market capitalization of $7.48 billion, a PE ratio of 80.73 and a beta of 0.92. NOV Inc. has a fifty-two week low of $12.28 and a fifty-two week high of $21.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The business's 50-day simple moving average is $19.63 and its 200-day simple moving average is $19.72.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion for the quarter, compared to analysts' expectations of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The business's quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.29 EPS. Sell-side analysts expect that NOV Inc. will post 0.99 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date is Friday, September 11th. NOV's payout ratio is presently 138.46%.

Insider Transactions at NOV

In related news, Director David D. Harrison sold 9,594 shares of NOV stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the transaction, the director owned 126,763 shares in the company, valued at approximately $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.15% of the company's stock.

NOV Profile

National Oilwell Varco NYSE: NOV is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV's business is organized to serve upstream energy companies around the world.

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