Heartland Advisors Inc. Has $22.46 Million Stock Position in NOV Inc. $NOV

Key Points

• Heartland Advisors Inc. increased its stake in NOV Inc. by 9.7% in the first quarter, buying 105,142 more shares and bringing its total to 1,194,332 shares worth about $22.46 million.
• NOV’s recent earnings report showed EPS of $0.05, missing analyst expectations of $0.17, while revenue came in at $2.05 billion, in line with estimates but down 2.4% from a year earlier.
• Analyst sentiment remains mixed: NOV has a consensus rating of “Hold” with an average price target of $20.50, though a few firms recently raised targets or upgraded the stock.

Heartland Advisors Inc. boosted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,194,332 shares of the oil and gas exploration company's stock after purchasing an additional 105,142 shares during the quarter. NOV comprises 1.1% of Heartland Advisors Inc.'s holdings, making the stock its 11th biggest position. Heartland Advisors Inc. owned 0.33% of NOV worth $22,465,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in shares of NOV during the 4th quarter worth approximately $28,000. Root Financial Partners LLC lifted its holdings in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after buying an additional 552 shares during the period. CIBC Private Wealth Group LLC boosted its stake in NOV by 659.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock valued at $36,000 after acquiring an additional 1,978 shares during the last quarter. Rothschild Investment LLC boosted its stake 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 valued at $37,000 after acquiring an additional 780 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in NOV by 37.9% during the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company's stock worth $40,000 after acquiring an additional 709 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NOV has been the topic of a number of analyst reports. Morgan Stanley set a $21.00 price target on NOV in a research note on Wednesday. Evercore raised NOV to a "hold" rating in a research note on Wednesday, April 29th. Stifel Nicolaus upped their price objective on NOV from $21.00 to $23.00 and gave the company a "buy" rating in a report on Monday, April 20th. Royal Bank Of Canada increased their target price on NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research note on Wednesday, April 29th. Finally, TD Cowen upgraded NOV from a "hold" rating to a "strong-buy" rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, NOV has a consensus rating of "Hold" and an average target price of $20.50.

NOV Trading Up 0.4%

NOV opened at $19.54 on Friday. The firm's fifty day moving average is $19.76 and its two-hundred day moving average is $19.18. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. The firm has a market cap of $7.01 billion, a PE ratio of 81.44 and a beta of 0.91. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55.

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

NOV Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, June 26th. Shareholders 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 payout ratio is presently 150.00%.

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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