Entropy Technologies LP Purchases 57,847 Shares of NOV Inc. $NOV

Key Points

• Entropy Technologies LP increased its NOV position by 164.3% in the first quarter, purchasing 57,847 additional shares for a total of 93,045 shares valued at approximately $1.75 million. Institutional investors collectively own 93.27% of NOV.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $20.50; targets from individual firms range from $19 to $26.
• NOV reported quarterly revenue of $2.05 billion but missed earnings expectations, posting $0.05 per share versus the $0.17 consensus estimate. Shares opened at $20.48, near their 52-week high, while the company paid a special $0.09 dividend.

Entropy Technologies LP grew its holdings in NOV Inc. (NYSE:NOV - Free Report) by 164.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 93,045 shares of the oil and gas exploration company's stock after buying an additional 57,847 shares during the quarter. Entropy Technologies LP's holdings in NOV were worth $1,750,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of NOV by 1,743.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company's stock valued at $79,080,000 after acquiring an additional 4,785,015 shares during the period. Ameriprise Financial Inc. lifted its position in shares of NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company's stock worth $39,347,000 after purchasing an additional 2,534,815 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in NOV by 76.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company's stock worth $42,545,000 after buying an additional 1,178,838 shares in the last quarter. Marshall Wace LLP bought a new position in NOV in the 3rd quarter valued at $14,114,000. Finally, AQR Capital Management LLC boosted its holdings in NOV by 29.1% in the fourth quarter. AQR Capital Management LLC now owns 4,668,127 shares of the oil and gas exploration company's stock valued at $72,963,000 after acquiring an additional 1,053,354 shares during the last quarter. Institutional investors own 93.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NOV. Stifel Nicolaus lifted their target price on shares of NOV from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Monday, April 20th. Citigroup raised their target price on shares of NOV from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Evercore raised NOV to a "hold" rating in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 target price on shares of NOV in a report on Wednesday, June 3rd. Finally, Capital One Financial upgraded shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price target on the stock in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $20.50.

NOV Stock Down 1.3%

NOV opened at $20.48 on Tuesday. The stock's fifty day simple moving average is $19.73 and its 200 day simple moving average is $19.37. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The stock has a market cap of $7.35 billion, a PE ratio of 85.34 and a beta of 0.91. NOV Inc. has a 1-year low of $11.77 and a 1-year high of $21.55.

NOV (NYSE:NOV - Get Free Report) last announced its earnings results 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). The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.19 EPS. As a group, research analysts expect that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Announces Dividend

The firm 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. The ex-dividend date was Friday, June 12th. This represents a dividend yield of 170.0%. NOV's dividend payout ratio is 150.00%.

NOV Company 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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