Fiduciary Alliance LLC Buys 70,151 Shares of NOV Inc. $NOV

Fiduciary Alliance LLC raised its stake in NOV Inc. (NYSE:NOV) by 32.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 288,637 shares of the oil and gas exploration company’s stock after purchasing an additional 70,151 shares during the period. Fiduciary Alliance LLC’s holdings in NOV were worth $5,490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in NOV. Price T Rowe Associates Inc. MD lifted its position in shares of NOV by 1,743.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock valued at $79,080,000 after buying an additional 4,785,015 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of NOV by 401.9% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock worth $39,347,000 after buying an additional 2,534,815 shares during the last quarter. American Century Companies Inc. raised its stake in shares of NOV by 43.6% during the 3rd 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 acquiring an additional 2,304,975 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of NOV by 76.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company’s stock worth $42,545,000 after acquiring an additional 1,178,838 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in NOV during the third quarter valued at approximately $14,114,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Down 2.0%

NYSE:NOV opened at $18.38 on Thursday. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55. The company has a market cap of $6.59 billion, a PE ratio of 76.57 and a beta of 0.89. The company’s 50 day moving average is $20.14 and its two-hundred day moving average is $18.87.

NOV (NYSE:NOV) last posted its quarterly 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). 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 analysts’ expectations of $2.05 billion. During the same period in the prior year, the business posted $0.19 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts anticipate that NOV Inc. will post 0.9 EPS for the current year.

NOV Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be given a $0.09 dividend. This represents a dividend yield of 170.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV’s dividend payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOV. Barclays restated 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. Evercore upgraded NOV to a “hold” rating in a report on Wednesday, April 29th. Morgan Stanley raised their price objective on NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, June 4th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average target price of $20.57.

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.