NOV Inc. (NYSE:NOV) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 39,463,027 shares of the oil and gas exploration company's stock after buying an additional 566,160 shares during the quarter. Vanguard Group Inc. owned approximately 10.50% of NOV worth $600,627,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Pzena Investment Management LLC grew its holdings in shares of NOV by 0.3% in the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company's stock valued at $632,610,000 after acquiring an additional 106,011 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of NOV by 13.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 16,793,128 shares of the oil and gas exploration company's stock valued at $245,178,000 after buying an additional 1,934,243 shares in the last quarter. Ameriprise Financial Inc. increased its stake in NOV by 40.7% in the fourth quarter. Ameriprise Financial Inc. now owns 5,718,408 shares of the oil and gas exploration company's stock valued at $83,489,000 after acquiring an additional 1,652,917 shares during the last quarter. Greenhaven Associates Inc. increased its stake in NOV by 25.0% in the first quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company's stock valued at $62,617,000 after acquiring an additional 823,115 shares during the last quarter. Finally, Earnest Partners LLC grew its stake in shares of NOV by 0.5% during the fourth quarter. Earnest Partners LLC now owns 3,883,015 shares of the oil and gas exploration company's stock worth $56,692,000 after buying an additional 17,871 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Stock Down 1.1%

Shares of NYSE NOV traded down $0.14 during trading hours on Friday, hitting $12.19. 2,323,784 shares of the stock were exchanged, compared to its average volume of 4,239,673. The company has a quick ratio of 1.72, a current ratio of 2.58 and a debt-to-equity ratio of 0.26. The company has a market cap of $4.53 billion, a PE ratio of 9.99, a PEG ratio of 3.38 and a beta of 1.32. The firm has a fifty day moving average price of $13.01 and a 200-day moving average price of $13.38. NOV Inc. has a 12 month low of $10.84 and a 12 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 business had revenue of $2.19 billion during the quarter, compared to analysts' expectations of $2.16 billion. NOV had a net margin of 5.36% and a return on equity of 7.25%. NOV's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. On average, sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Friday, September 12th. NOV's dividend payout ratio (DPR) is 24.59%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NOV shares. Royal Bank Of Canada dropped their target price on shares of NOV from $19.00 to $18.00 and set an "outperform" rating on the stock in a report on Wednesday, July 30th. Evercore ISI lowered their target price on shares of NOV from $15.00 to $14.00 and set an "in-line" rating on the stock in a report on Wednesday, July 30th. JPMorgan Chase & Co. lowered shares of NOV from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $17.00 to $15.00 in a research note on Wednesday, July 30th. Stifel Nicolaus decreased their price target on shares of NOV from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, July 30th. Finally, Wells Fargo & Company decreased their price target on shares of NOV from $11.00 to $10.00 and set an "underweight" rating for the company in a research note on Thursday, June 5th. Three 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. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $16.56.

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.