Vest Financial LLC purchased a new stake in shares of NOV Inc. (NYSE:NOV - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 157,496 shares of the oil and gas exploration company's stock, valued at approximately $2,397,000.
Several other hedge funds have also recently bought and sold shares of NOV. Merit Financial Group LLC acquired a new stake in shares of NOV during the first quarter worth approximately $159,000. Rhumbline Advisers lifted its position in NOV by 8.3% in the 1st quarter. Rhumbline Advisers now owns 1,187,218 shares of the oil and gas exploration company's stock worth $18,069,000 after buying an additional 91,080 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of NOV by 4,053.5% during the 1st quarter. GAMMA Investing LLC now owns 65,750 shares of the oil and gas exploration company's stock valued at $1,001,000 after acquiring an additional 64,167 shares in the last quarter. Greenhaven Associates Inc. increased its stake in shares of 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 worth $62,617,000 after acquiring an additional 823,115 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of NOV by 126.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 34,726 shares of the oil and gas exploration company's stock worth $507,000 after acquiring an additional 19,399 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.
NOV Stock Performance
Shares of NYSE:NOV traded up $0.12 during trading on Wednesday, hitting $13.43. 2,977,156 shares of the stock were exchanged, compared to its average volume of 3,998,788. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The company's fifty day simple moving average is $12.26 and its 200-day simple moving average is $14.05.
NOV (NYSE:NOV - Get Free Report) last posted its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. The business's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Sell-side analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.
NOV Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.21 per share. The ex-dividend date is Monday, June 2nd. This represents a yield of 3.63%. NOV's dividend payout ratio is currently 20.00%.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on the company. Barclays cut their price target on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Susquehanna cut their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. 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 note on Thursday, June 5th. The Goldman Sachs Group cut their price target on shares of NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a report on Thursday, April 10th. Finally, Morgan Stanley decreased their price objective on shares of NOV from $18.00 to $15.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NOV currently has a consensus rating of "Hold" and an average target price of $17.44.
Read Our Latest Stock Report on NOV
About NOV
(
Free Report)
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.
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