NOV Inc. $NOV Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. reduced its holdings in NOV Inc. (NYSE:NOV) by 9.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,916,509 shares of the oil and gas exploration company’s stock after selling 211,544 shares during the quarter. Pacer Advisors Inc.’s holdings in NOV were worth $36,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in NOV by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 19,404,319 shares of the oil and gas exploration company’s stock worth $364,987,000 after acquiring an additional 431,684 shares in the last quarter. First Trust Advisors LP grew its stake in shares of NOV by 2.3% during the 1st quarter. First Trust Advisors LP now owns 7,192,735 shares of the oil and gas exploration company’s stock worth $135,295,000 after purchasing an additional 158,788 shares during the period. Bank of America Corp DE grew its stake in shares of NOV by 14.8% during the 3rd quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock worth $70,839,000 after purchasing an additional 689,427 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of NOV by 1,743.9% in the 4th 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 purchasing an additional 4,785,015 shares in the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of NOV by 29.1% in the fourth quarter. AQR Capital Management LLC now owns 4,668,127 shares of the oil and gas exploration company’s stock valued at $72,963,000 after purchasing an additional 1,053,354 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE NOV opened at $19.47 on Tuesday. The stock has a market cap of $6.94 billion, a price-to-earnings ratio of 74.89 and a beta of 0.92. NOV Inc. has a 52 week low of $11.77 and a 52 week high of $21.55. The company’s 50-day moving average price is $19.58 and its 200 day moving average price is $19.44. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period last year, the firm posted $0.29 EPS. As a group, research analysts forecast that NOV Inc. will post 0.95 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently disclosed a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a dividend of $0.09 per share. This represents a dividend yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio (DPR) is 138.46%.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of research analyst reports. Morgan Stanley set a $21.00 price objective on shares of NOV in a report on Wednesday, July 15th. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Thursday, June 4th. Zacks Research raised NOV from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Citigroup upped their price target on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average price target of $21.31.

Insider Activity

In related news, Director David D. Harrison sold 9,594 shares of NOV stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the transaction, the director directly owned 126,763 shares in the company, valued at $2,435,117.23. The trade was a 7.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

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.