Jefferies Financial Group Inc. Has $1.12 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Key Points

• Jefferies Financial Group Inc. increased its holdings in NOV Inc. by 40.8% in the first quarter, owning a total of 73,504 shares worth approximately $1.12 million.
• Wall Street analysts have recently downgraded their price targets for NOV, with a consensus price target now at $16.69, reflecting a mix of "buy," "hold," and "sell" ratings.
• NOV reported a quarterly EPS of $0.29, below the estimated $0.30, while its revenue was $2.19 billion, slightly above expectations of $2.16 billion.

Jefferies Financial Group Inc. boosted its stake in NOV Inc. (NYSE:NOV - Free Report) by 40.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,504 shares of the oil and gas exploration company's stock after acquiring an additional 21,283 shares during the period. Jefferies Financial Group Inc.'s holdings in NOV were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its stake in NOV by 28.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 25,425 shares of the oil and gas exploration company's stock worth $371,000 after purchasing an additional 5,605 shares during the last quarter. LPL Financial LLC raised its holdings in shares of NOV by 23.7% during the fourth quarter. LPL Financial LLC now owns 59,340 shares of the oil and gas exploration company's stock worth $866,000 after purchasing an additional 11,364 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of NOV by 11.6% during the fourth quarter. JPMorgan Chase & Co. now owns 887,362 shares of the oil and gas exploration company's stock worth $12,955,000 after purchasing an additional 92,006 shares during the period. Norges Bank acquired a new stake in shares of NOV during the fourth quarter worth $7,989,000. Finally, Pictet Asset Management Holding SA raised its holdings in shares of NOV by 14.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 62,893 shares of the oil and gas exploration company's stock worth $918,000 after purchasing an additional 7,749 shares during the period. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOV has been the topic of a number of analyst reports. JPMorgan Chase & Co. cut shares of NOV from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $17.00 to $15.00 in a report on Wednesday, July 30th. Susquehanna set a $17.00 target price on NOV and gave the company a "positive" rating in a research note on Wednesday, July 30th. Wells Fargo & Company dropped their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating on the stock in a research report on Thursday, June 5th. Barclays reduced their price objective on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, The Goldman Sachs Group cut their target price on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research note on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $16.69.

NOV Stock Down 2.1%

Shares of NOV stock traded down $0.26 during trading on Wednesday, hitting $11.97. 3,099,797 shares of the company were exchanged, compared to its average volume of 4,375,480. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.58. The firm has a market capitalization of $4.45 billion, a price-to-earnings ratio of 9.81, a P/E/G ratio of 3.26 and a beta of 1.32. The business's 50-day simple moving average is $13.04 and its 200 day simple moving average is $13.54. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $18.40.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.01). The company had revenue of $2.19 billion for the quarter, compared to analyst estimates of $2.16 billion. NOV had a return on equity of 7.25% and a net margin of 5.36%. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently announced a dividend, which was paid on Friday, June 13th. Investors of record on Tuesday, June 3rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 363.0%. NOV's payout ratio is 24.59%.

NOV Company Profile

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.