Greenhaven Associates Inc. Grows Position in NOV Inc. $NOV

Greenhaven Associates Inc. grew its stake in NOV Inc. (NYSE:NOV) by 15.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,747,682 shares of the oil and gas exploration company’s stock after acquiring an additional 765,166 shares during the quarter. NOV comprises approximately 1.2% of Greenhaven Associates Inc.’s portfolio, making the stock its 14th biggest holding. Greenhaven Associates Inc. owned approximately 1.58% of NOV worth $76,157,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. CoreFirst Bank & Trust purchased a new position in NOV in the 2nd quarter valued at about $35,000. UMB Bank n.a. raised its position in shares of NOV by 114.1% in the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,657 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of NOV by 395.3% during the second quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after buying an additional 2,921 shares during the period. Signaturefd LLC grew its stake in NOV by 33.2% in the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 931 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in NOV by 123.8% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock valued at $67,000 after acquiring an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Susquehanna lifted their price objective on NOV from $17.00 to $20.00 and gave the company a “positive” rating in a research report on Wednesday, January 7th. Barclays raised their price target on NOV from $13.00 to $15.00 and gave the stock an “underweight” rating in a research note on Wednesday, December 17th. TD Cowen reaffirmed a “buy” rating on shares of NOV in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Monday, December 29th. Finally, The Goldman Sachs Group reaffirmed a “sell” rating and set a $17.00 price target on shares of NOV in a research report on Wednesday, January 14th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.92.

NOV Stock Down 1.4%

NOV opened at $18.34 on Friday. The company has a market cap of $6.69 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 4.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.71 and a current ratio of 2.55. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $19.22. The firm has a 50 day moving average price of $16.63 and a 200 day moving average price of $14.54.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, December 5th. NOV’s dividend payout ratio is 30.00%.

Insider Transactions at NOV

In related news, Director Christian S. Kendall acquired 70,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were bought at an average cost of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the transaction, the director directly owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This trade represents a 438.90% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.08% of the company’s stock.

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.