Y Intercept Hong Kong Ltd Invests $2.33 Million in NOV Inc. $NOV

Key Points

• Y Intercept Hong Kong Ltd disclosed a new first-quarter position in NOV Inc., buying 123,899 shares valued at about $2.33 million.
• Institutional ownership in NOV remains heavy, with investors holding 93.27% of the company’s stock. Several firms also recently increased or initiated stakes.
• Analysts are mixed on NOV: the stock currently has a Hold consensus rating and an average price target of $20.43, while the company recently reported earnings that missed EPS estimates but matched revenue expectations.

Y Intercept Hong Kong Ltd purchased a new position in NOV Inc. (NYSE:NOV - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 123,899 shares of the oil and gas exploration company's stock, valued at approximately $2,331,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in NOV in the fourth quarter worth $28,000. Root Financial Partners LLC increased its holdings in shares of NOV by 39.9% during the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company's stock valued at $36,000 after acquiring an additional 552 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company's stock valued at $36,000 after acquiring an additional 1,978 shares in the last quarter. Rothschild Investment LLC raised its position 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. Finally, Allworth Financial LP boosted its stake in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company's stock worth $40,000 after purchasing an additional 709 shares in the last quarter. Institutional investors own 93.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore upgraded shares of NOV to a "hold" rating in a research note on Wednesday, April 29th. Barclays reiterated an "underweight" rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Capital One Financial upgraded shares of NOV from an "equal weight" rating to an "overweight" rating and set a $26.00 price target on the stock in a report on Thursday, June 4th. Weiss Ratings restated a "hold (c)" rating on shares of NOV in a report on Wednesday, June 24th. Finally, Royal Bank Of Canada upped their price objective on NOV from $21.00 to $22.00 and gave the company a "sector perform" rating in a research report on Wednesday, April 29th. One equities 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $20.43.

NOV Price Performance

NOV opened at $18.76 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. The stock has a market capitalization of $6.73 billion, a P/E ratio of 78.16 and a beta of 0.91. The company's 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $19.04. NOV Inc. has a 52-week low of $11.77 and a 52-week high of $21.55.

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

NOV Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.09 dividend. The ex-dividend date was Friday, June 12th. This represents a yield of 170.0%. NOV's dividend payout ratio (DPR) 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.

Want to see what other hedge funds are holding NOV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NOV Inc. (NYSE:NOV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.