MQS Management LLC Makes New Investment in NOV Inc. $NOV

MQS Management LLC purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,255 shares of the oil and gas exploration company’s stock, valued at approximately $607,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. American Century Companies Inc. boosted its position in NOV by 43.6% in the 3rd quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock valued at $100,654,000 after buying an additional 2,304,975 shares during the last quarter. Citigroup Inc. raised its position in shares of NOV by 32.1% during the third quarter. Citigroup Inc. now owns 357,529 shares of the oil and gas exploration company’s stock worth $4,737,000 after acquiring an additional 86,854 shares during the last quarter. Oldfield Partners LLP raised its position in shares of NOV by 5.8% during the fourth quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock worth $78,859,000 after acquiring an additional 276,961 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in shares of NOV by 203.9% during the fourth quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock valued at $1,343,000 after acquiring an additional 57,634 shares during the period. Finally, Earnest Partners LLC boosted its holdings in NOV by 1.9% in the third quarter. Earnest Partners LLC now owns 4,106,951 shares of the oil and gas exploration company’s stock valued at $54,417,000 after acquiring an additional 77,429 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

NOV stock opened at $18.57 on Wednesday. The firm has a market cap of $6.67 billion, a PE ratio of 77.39 and a beta of 0.89. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The business’s 50-day moving average price is $20.11 and its two-hundred day moving average price is $18.94. NOV Inc. has a 1-year low of $11.77 and a 1-year high of $21.55.

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

NOV Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.09 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a yield of 170.0%. NOV’s payout ratio is presently 150.00%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NOV. Morgan Stanley lifted 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. Evercore raised shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. Citigroup lifted their price target on shares of NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Finally, Susquehanna lifted their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.