Harbour Capital Advisors LLC bought a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 24,540 shares of the oil and gas exploration company's stock, valued at approximately $373,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. grew its holdings in NOV by 8.5% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 135,504 shares of the oil and gas exploration company's stock valued at $2,062,000 after buying an additional 10,652 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of NOV by 12.1% during the 1st quarter. QRG Capital Management Inc. now owns 26,928 shares of the oil and gas exploration company's stock valued at $410,000 after acquiring an additional 2,896 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of NOV by 382.9% in the first quarter. Exchange Traded Concepts LLC now owns 18,201 shares of the oil and gas exploration company's stock valued at $277,000 after purchasing an additional 14,432 shares in the last quarter. Hennessy Advisors Inc. increased its position in NOV by 52.4% in the first quarter. Hennessy Advisors Inc. now owns 50,900 shares of the oil and gas exploration company's stock worth $775,000 after purchasing an additional 17,500 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in NOV by 62.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 56,539 shares of the oil and gas exploration company's stock valued at $861,000 after purchasing an additional 21,813 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of brokerages have commented on NOV. Susquehanna dropped their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Piper Sandler dropped their price target on NOV from $18.00 to $16.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. The Goldman Sachs Group decreased their price objective on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research report on Thursday, April 10th. Barclays lowered their price objective on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley cut their target price on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $17.44.
Get Our Latest Stock Analysis on NOV
NOV Trading Down 1.8%
Shares of NYSE NOV traded down $0.23 during mid-day trading on Wednesday, reaching $12.85. The company had a trading volume of 3,810,092 shares, compared to its average volume of 4,055,280. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 8.57, a price-to-earnings-growth ratio of 3.28 and a beta of 1.28. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The business's 50-day moving average is $12.59 and its 200-day moving average is $13.89. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26.
NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a net margin of 6.68% and a return on equity of 9.11%. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm posted $0.30 EPS. The business's revenue was down 2.4% on a year-over-year basis. Equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.
NOV Announces Dividend
The company also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a $0.21 dividend. This represents a dividend yield of 3.63%. The ex-dividend date was Monday, June 2nd. NOV's dividend payout ratio is 20.00%.
NOV Company Profile
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Free Report)
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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