GAMMA Investing LLC Purchases 64,167 Shares of NOV Inc. (NYSE:NOV)

GAMMA Investing LLC grew its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 4,053.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,750 shares of the oil and gas exploration company's stock after buying an additional 64,167 shares during the period. GAMMA Investing LLC's holdings in NOV were worth $1,001,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NOV. Huntington National Bank lifted its stake in NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd increased its holdings in shares of NOV by 282.9% in the fourth quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock worth $33,000 after purchasing an additional 1,655 shares during the period. Signaturefd LLC raised its position in shares of NOV by 41.3% in the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after buying an additional 756 shares in the last quarter. CoreFirst Bank & Trust bought a new stake in NOV during the fourth quarter valued at $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in NOV during the fourth quarter worth about $42,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOV has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price target on NOV from $20.00 to $19.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Stifel Nicolaus reduced their target price on NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Barclays cut their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley decreased their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Wells Fargo & Company cut their target price on NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $17.44.

NOV Trading Down 0.8%

NOV stock traded down $0.12 on Friday, reaching $13.66. The company's stock had a trading volume of 1,641,410 shares, compared to its average volume of 4,017,510. The firm has a market cap of $5.13 billion, a PE ratio of 9.09, a PEG ratio of 3.41 and a beta of 1.28. The business has a fifty day simple moving average of $12.51 and a two-hundred day simple moving average of $13.95. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.65.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.11 billion. NOV had a return on equity of 9.11% and a net margin of 6.68%. The business's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, research analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were issued a dividend of $0.21 per share. The ex-dividend date was Monday, June 2nd. This represents a dividend yield of 3.63%. NOV's payout ratio is 20.00%.

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.