WINTON GROUP Ltd Invests $1.21 Million in NOV Inc. $NOV

Key Points

• WINTON GROUP Ltd. initiated a $1.21 million position in NOV during the second quarter, purchasing 65,432 shares. Institutional investors collectively own 93.27% of the company.
• NOV exceeded quarterly earnings expectations, reporting $0.31 in EPS versus the $0.17 consensus estimate and $2.13 billion in revenue. However, revenue declined 2.5% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $21.31, while NOV recently declared a quarterly dividend of $0.09 per share, yielding about 1.7%.

WINTON GROUP Ltd bought a new position in shares of NOV Inc. (NYSE:NOV - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 65,432 shares of the oil and gas exploration company's stock, valued at approximately $1,214,000.

Several other institutional investors have also bought and sold shares of the stock. Parkside Financial Bank & Trust raised its stake in NOV by 133.6% during the second quarter. Parkside Financial Bank & Trust now owns 1,411 shares of the oil and gas exploration company's stock worth $26,000 after acquiring an additional 807 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of NOV by 198.6% in the 2nd quarter. IFP Advisors Inc now owns 1,699 shares of the oil and gas exploration company's stock valued at $32,000 after purchasing an additional 1,130 shares in the last quarter. Root Financial Partners LLC boosted its stake in shares of NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after purchasing an additional 552 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock worth $36,000 after purchasing an additional 1,978 shares during the last quarter. Finally, Rothschild Investment LLC grew its holdings in shares of NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company's stock worth $37,000 after purchasing an additional 780 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

Insiders Place Their Bets

In other NOV news, Director David Harrison sold 9,594 shares of the company's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the transaction, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. This represents a 7.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.15% of the company's stock.

Analysts Set New Price Targets

NOV has been the subject of several analyst reports. Zacks Research downgraded shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 26th. Citigroup raised their price objective on shares of NOV from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, June 18th. Capital One Financial upgraded shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 target price for the company in a research note on Thursday, June 4th. TD Cowen boosted their target price on NOV from $25.00 to $26.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Finally, Susquehanna increased their price target on NOV from $22.00 to $24.00 and gave the stock a "positive" rating in a research report on Thursday, July 30th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $21.31.

NOV Stock Up 0.0%

NYSE:NOV opened at $21.11 on Monday. The company has a market cap of $7.52 billion, a price-to-earnings ratio of 81.19 and a beta of 0.94. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. The stock's fifty day moving average price is $20.22 and its two-hundred day moving average price is $19.85. NOV Inc. has a 52-week low of $12.28 and a 52-week high of $21.93.

NOV (NYSE:NOV - Get Free Report) last released its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same period last year, the firm earned $0.29 EPS. The business's revenue for the quarter was down 2.5% on a year-over-year basis. On average, analysts anticipate that NOV Inc. will post 0.99 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. NOV's payout ratio is currently 138.46%.

About NOV

NOV Inc is a global provider of equipment, technologies and services used in the oil and gas industry. The company supplies products for drilling, well construction, completion and production operations, serving onshore and offshore customers across the energy value chain.

Its offerings include land and offshore drilling equipment, rig systems, drilling tools, tubular-handling equipment, wellbore technologies, completion tools and production systems. NOV also provides aftermarket parts, technical support, repair and maintenance services, and other solutions intended to improve the efficiency, safety and reliability of energy operations.

NOV serves customers in major energy-producing regions around the world through manufacturing, service and distribution operations.

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