Quantbot Technologies LP Purchases New Holdings in NOV Inc. $NOV

Quantbot Technologies LP bought a new stake in shares of NOV Inc. (NYSE:NOV) in the 2nd quarter, Holdings Channel reports. The firm bought 28,157 shares of the oil and gas exploration company’s stock, valued at approximately $522,000.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. bought a new position in NOV during the 2nd quarter valued at approximately $697,976,000. Pzena Investment Management LLC bought a new stake in NOV in the second quarter worth $674,776,000. Price T Rowe Associates Inc. MD grew its stake in shares of NOV by 1,743.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after acquiring an additional 4,785,015 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of NOV during the second quarter valued at $54,767,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after acquiring an additional 2,534,815 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group set a $19.00 price target on shares of NOV in a research note on Wednesday, June 3rd. TD Cowen raised their price objective on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Susquehanna upped their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. Capital One Financial upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a report on Thursday, June 4th. Finally, Barclays decreased 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 research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $21.31.

NOV Price Performance

NYSE NOV opened at $20.83 on Friday. NOV Inc. has a one year low of $12.28 and a one year high of $21.67. The stock has a 50-day moving average of $19.58 and a 200 day moving average of $19.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of 80.13 and a beta of 0.92.

NOV (NYSE:NOV) last announced its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. NOV had a net margin of 1.10% and a return on equity of 3.44%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter last year, the firm posted $0.29 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. On average, sell-side analysts forecast that NOV Inc. will post 0.99 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 11th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. NOV’s dividend payout ratio is 138.46%.

Insider Transactions at NOV

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

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.