LSV Asset Management Acquires 724,822 Shares of NOV Inc. $NOV

LSV Asset Management raised its holdings in NOV Inc. (NYSE:NOV) by 48.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,233,000 shares of the oil and gas exploration company’s stock after buying an additional 724,822 shares during the quarter. LSV Asset Management owned about 0.60% of NOV worth $27,756,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Signaturefd LLC boosted its holdings in NOV by 33.2% in the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares in the last quarter. Vident Advisory LLC lifted its position in shares of NOV by 9.6% in the 1st quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company’s stock worth $196,000 after purchasing an additional 1,126 shares during the period. Keeley Teton Advisors LLC boosted its stake in shares of NOV by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company’s stock valued at $1,633,000 after purchasing an additional 1,128 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of NOV by 30.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock valued at $75,000 after buying an additional 1,155 shares during the period. Finally, Voya Investment Management LLC raised its stake in NOV by 2.8% in the first quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company’s stock worth $737,000 after buying an additional 1,309 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Susquehanna set a $17.00 price objective on NOV and gave the company a “positive” rating in a research report on Wednesday, July 30th. Raymond James Financial restated an “outperform” rating and set a $17.00 price target on shares of NOV in a research report on Tuesday, October 28th. Citigroup increased their price objective on NOV from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Zacks Research upgraded shares of NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Finally, Royal Bank Of Canada increased their price target on shares of NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus target price of $15.54.

NOV Trading Up 2.0%

NOV stock opened at $15.33 on Wednesday. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $16.84. The company has a market capitalization of $5.59 billion, a price-to-earnings ratio of 15.33, a price-to-earnings-growth ratio of 4.73 and a beta of 1.25. The business’s fifty day simple moving average is $13.83 and its two-hundred day simple moving average is $13.18. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. As a group, equities analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.