SG Americas Securities LLC Purchases 318,248 Shares of NOV Inc. $NOV

Key Points

• SG Americas Securities LLC increased its NOV stake by 749.2% in the first quarter, buying 318,248 additional shares and bringing its total holding to 360,729 shares valued at about $6.8 million.
• Several other institutional investors also raised positions in NOV, and hedge funds and other institutions now own 93.27% of the company’s shares.
• NOV reported mixed financial results, missing EPS estimates in its latest quarter, while analysts currently rate the stock a consensus Hold with a target price of $20.57.

SG Americas Securities LLC raised its position in NOV Inc. (NYSE:NOV - Free Report) by 749.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 360,729 shares of the oil and gas exploration company's stock after buying an additional 318,248 shares during the period. SG Americas Securities LLC owned 0.10% of NOV worth $6,785,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NOV. Dimensional Fund Advisors LP grew its position in NOV by 2.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 18,972,635 shares of the oil and gas exploration company's stock worth $296,547,000 after acquiring an additional 394,582 shares during the last quarter. American Century Companies Inc. boosted its stake in NOV by 43.6% in the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company's stock worth $100,654,000 after purchasing an additional 2,304,975 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of NOV by 0.4% during the fourth quarter. First Trust Advisors LP now owns 7,033,947 shares of the oil and gas exploration company's stock worth $109,941,000 after purchasing an additional 25,610 shares during the last quarter. Bank of America Corp DE increased its stake in shares of NOV by 14.8% in the third quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company's stock valued at $70,839,000 after buying an additional 689,427 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position 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 worth $79,080,000 after buying an additional 4,785,015 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of NOV in a research note on Wednesday. The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research report on Wednesday, June 3rd. Morgan Stanley increased their price objective on NOV from $18.00 to $20.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 15th. Barclays reaffirmed an "underweight" rating and set a $21.00 price target (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Finally, Stifel Nicolaus lifted their price objective on NOV from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, NOV currently has a consensus rating of "Hold" and a consensus target price of $20.57.

NOV Trading Down 0.2%

NYSE:NOV opened at $18.61 on Monday. NOV Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $21.55. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The stock has a market capitalization of $6.68 billion, a PE ratio of 77.57 and a beta of 0.89. The business's 50-day simple moving average is $20.13 and its 200-day simple moving average is $18.91.

NOV (NYSE:NOV - Get Free Report) last posted 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 business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.NOV's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. Sell-side analysts expect that NOV Inc. will post 0.9 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a dividend yield of 170.0%. NOV's dividend payout ratio is currently 150.00%.

About NOV

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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