NOV Inc. $NOV Shares Sold by LSV Asset Management

LSV Asset Management reduced its holdings in NOV Inc. (NYSE:NOV) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,148,100 shares of the oil and gas exploration company’s stock after selling 84,900 shares during the quarter. LSV Asset Management’s holdings in NOV were worth $28,462,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOV. Profund Advisors LLC lifted its position in shares of NOV by 6.7% during the 3rd quarter. Profund Advisors LLC now owns 37,518 shares of the oil and gas exploration company’s stock valued at $497,000 after acquiring an additional 2,349 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of NOV by 10.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 145,993 shares of the oil and gas exploration company’s stock valued at $1,934,000 after purchasing an additional 13,422 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in shares of NOV by 2.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 718,544 shares of the oil and gas exploration company’s stock valued at $9,521,000 after purchasing an additional 17,851 shares during the period. Hantz Financial Services Inc. increased its stake in NOV by 114.0% in the 3rd quarter. Hantz Financial Services Inc. now owns 7,832 shares of the oil and gas exploration company’s stock worth $104,000 after purchasing an additional 4,172 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in NOV by 442.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 20,465 shares of the oil and gas exploration company’s stock worth $276,000 after buying an additional 16,690 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Up 1.1%

NOV stock opened at $19.21 on Friday. The company has a 50 day moving average of $17.30 and a two-hundred day moving average of $14.92. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 50.55 and a beta of 0.93. NOV Inc. has a 12-month low of $10.84 and a 12-month high of $19.60. The company has a quick ratio of 1.67, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas exploration company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the company posted $0.41 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.6%. NOV’s dividend payout ratio (DPR) is 78.95%.

Wall Street Analyst Weigh In

Several brokerages have commented on NOV. BMO Capital Markets raised their target price on shares of NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday. Stifel Nicolaus upped their price target on shares of NOV from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, February 6th. Barclays raised shares of NOV from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $15.00 to $20.00 in a research note on Wednesday, February 4th. Morgan Stanley set a $16.00 target price on shares of NOV in a research note on Monday, December 15th. Finally, Evercore set a $19.00 target price on NOV in a research report on Friday, February 6th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.40.

Insider Activity

In other news, Director Christian S. Kendall purchased 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The stock was acquired at an average cost of $14.46 per share, for a total transaction of $1,012,200.00. Following the acquisition, the director directly owned 85,949 shares in the company, valued at $1,242,822.54. This represents a 438.90% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.08% of the stock is currently owned by corporate insiders.

NOV Company Profile

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.