NOV Inc. $NOV Position Raised by Fifth Third Bancorp

Fifth Third Bancorp grew its position in NOV Inc. (NYSE:NOV - Free Report) by 2,704.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 145,170 shares of the oil and gas exploration company's stock after purchasing an additional 139,994 shares during the period. Fifth Third Bancorp's holdings in NOV were worth $2,731,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

NOV has been the topic of several research analyst reports. Weiss Ratings reiterated a "hold (c)" rating on shares of NOV in a research report on Wednesday, June 24th. Evercore raised NOV to a "hold" rating in a research note on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 price target on shares of NOV in a report on Wednesday, June 3rd. Royal Bank Of Canada boosted their target price on shares of NOV from $21.00 to $22.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 29th. Finally, Citigroup increased their target price on shares of NOV from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $20.50.

NOV Price Performance

Shares of NYSE:NOV opened at $19.57 on Tuesday. The company has a market cap of $7.02 billion, a P/E ratio of 81.56 and a beta of 0.91. The company's fifty day moving average is $19.76 and its two-hundred day moving average is $19.23. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55.

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

NOV Dividend Announcement

The firm also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.09 per share. The ex-dividend date was Friday, June 12th. This represents a yield of 170.0%. NOV's dividend 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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