Two Sigma Securities LLC Purchases Shares of 32,161 NOV Inc. $NOV

Two Sigma Securities LLC acquired a new stake in shares of NOV Inc. (NYSE:NOV) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 32,161 shares of the oil and gas exploration company’s stock, valued at approximately $597,000.

Other large investors have also bought and sold shares of the company. California State Teachers Retirement System lifted its position in NOV by 20.4% during the first quarter. California State Teachers Retirement System now owns 422,834 shares of the oil and gas exploration company’s stock valued at $7,954,000 after purchasing an additional 71,754 shares during the period. Wealthfront Advisers LLC bought a new position in shares of NOV during the 2nd quarter valued at $1,281,000. Crossmark Global Holdings Inc. boosted its stake in shares of NOV by 203.9% in the 4th quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock worth $1,343,000 after buying an additional 57,634 shares during the last quarter. Energy Income Partners LLC bought a new stake in shares of NOV in the second quarter worth $4,344,000. Finally, Oppenheimer Asset Management Inc. bought a new stake in NOV during the 2nd quarter worth approximately $2,869,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NOV has been the topic of a number of analyst reports. Barclays cut their target price on NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. TD Cowen lifted their target price on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Citigroup boosted their price target on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Finally, Susquehanna increased their target price on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Thursday, July 30th. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $21.31.

Insider Activity

In related news, Director David D. Harrison sold 9,594 shares of the stock in a transaction 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 sale, the director owned 126,763 shares of the company’s stock, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is owned by corporate insiders.

NOV Stock Performance

Shares of NOV stock opened at $21.38 on Wednesday. The stock has a fifty day moving average price of $19.73 and a 200 day moving average price of $19.75. 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 stock has a market cap of $7.62 billion, a PE ratio of 82.23 and a beta of 0.92. NOV Inc. has a 1 year low of $12.28 and a 1 year high of $21.74.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping the consensus estimate 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 for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.29 EPS. Sell-side analysts forecast that NOV Inc. will post 0.99 earnings per share for the current fiscal year.

NOV Announces Dividend

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

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.