State of Wyoming Makes New $871,000 Investment in NOV Inc. $NOV

State of Wyoming purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 46,963 shares of the oil and gas exploration company’s stock, valued at approximately $871,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its stake in shares of 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 valued at $36,000 after buying an additional 1,978 shares in the last quarter. Root Financial Partners LLC increased its stake in NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 552 shares in the last quarter. Rothschild Investment LLC increased its stake in NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 780 shares in the last quarter. Altshuler Shaham Ltd raised its holdings in NOV by 36.8% during the first 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. Finally, Allworth Financial LP raised its holdings in NOV by 37.9% during the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 709 shares during the period. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Susquehanna upped their price objective on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. Royal Bank Of Canada boosted 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. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Thursday, June 4th. Finally, Barclays cut their price objective on shares of NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and an average target price of $21.31.

NOV Trading Up 2.6%

Shares of NOV stock opened at $21.17 on Friday. NOV Inc. has a twelve month low of $12.09 and a twelve month high of $21.55. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $19.56 and a 200-day moving average price of $19.58. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 81.43 and a beta of 0.92.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts anticipate that NOV Inc. will post 0.94 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued 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 is 138.46%.

Insider Activity

In other news, Director David D. Harrison sold 9,594 shares of the 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 approximately $2,435,117.23. This represents a 7.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is owned by company 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.