Edmond DE Rothschild Holding S.A. Buys New Position in NOV Inc. $NOV

Edmond DE Rothschild Holding S.A. purchased a new position in shares of NOV Inc. (NYSE:NOV) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 400,000 shares of the oil and gas exploration company’s stock, valued at approximately $7,420,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NOV. Root Financial Partners LLC boosted its holdings in shares of NOV by 39.9% in 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of NOV in the 2nd quarter valued at $37,000. Altshuler Shaham Ltd increased its holdings in shares of NOV by 36.8% in the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 546 shares during the period. Summit Securities Group LLC purchased a new stake in NOV in the 1st quarter valued at $40,000. Finally, CIBC Private Wealth Group LLC boosted its stake in NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 1,978 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

NOV has been the topic of several research reports. TD Cowen raised their price objective on shares of NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Susquehanna upped their target price on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Thursday, July 30th. Royal Bank Of Canada raised their price target on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Morgan Stanley set a $21.00 price target on NOV in a research report on Wednesday, July 15th. Finally, The Goldman Sachs Group set a $19.00 target price on NOV in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus price target of $21.31.

NOV Stock Down 1.4%

NOV stock opened at $20.70 on Thursday. The stock has a market capitalization of $7.38 billion, a PE ratio of 79.60 and a beta of 0.92. The company has a fifty day moving average of $19.56 and a 200-day moving average of $19.64. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. NOV Inc. has a one year low of $12.09 and a one year high of $21.67.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.29 earnings per share. As a group, analysts expect that NOV Inc. will post 0.97 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Friday, September 11th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio is 138.46%.

Insider Activity at NOV

In other news, Director David D. Harrison sold 9,594 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the sale, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. This trade represents a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.15% of the stock is owned by corporate insiders.

NOV 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.