Dimensional Fund Advisors LP Has $364.99 Million Stock Holdings in NOV Inc. $NOV

Key Points

• Dimensional Fund Advisors increased its stake in NOV Inc. by 2.3% in the first quarter, bringing its holdings to 19.4 million shares valued at about $365 million.
• NOV reported Q1 EPS of $0.05, missing analyst expectations of $0.17, while revenue came in at $2.05 billion, in line with forecasts but down 2.4% from a year earlier.
• Wall Street sentiment is mixed: NOV currently carries an average Hold rating with a $20.50 price target, though some firms recently upgraded the stock, and the company also paid a $0.09 special dividend.

Dimensional Fund Advisors LP grew its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 2.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,404,319 shares of the oil and gas exploration company's stock after buying an additional 431,684 shares during the period. Dimensional Fund Advisors LP owned approximately 5.41% of NOV worth $364,987,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. V Square Quantitative Management LLC bought a new position in NOV in the fourth quarter worth approximately $28,000. Root Financial Partners LLC lifted its stake in NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after acquiring an additional 552 shares in the last quarter. Summit Securities Group LLC purchased a new position in NOV during the first quarter worth about $40,000. CIBC Private Wealth Group LLC boosted its stake in shares of NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock worth $36,000 after buying an additional 1,978 shares during the last quarter. Finally, Rothschild Investment LLC boosted its position in NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 780 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

NOV Price Performance

Shares of NOV stock opened at $20.16 on Wednesday. The firm has a market cap of $7.24 billion, a P/E ratio of 84.02 and a beta of 0.91. The business's 50 day moving average price is $19.75 and its 200-day moving average price is $19.27. NOV Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $21.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company posted $0.19 earnings per share. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Dividend Announcement

The company also recently declared a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV's dividend payout ratio is presently 150.00%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NOV. Evercore upgraded shares of NOV to a "hold" rating in a research note on Wednesday, April 29th. Barclays restated an "underweight" rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Capital One Financial raised shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price target for the company in a report on Thursday, June 4th. Royal Bank Of Canada lifted their price target on NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 29th. Finally, TD Cowen upgraded shares of NOV from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, NOV currently has an average rating of "Hold" and an average price target of $20.50.

About NOV

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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