WINTON GROUP Ltd Invests $1.21 Million in NOV Inc. $NOV

WINTON GROUP Ltd acquired a new position in shares of NOV Inc. (NYSE:NOV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 65,432 shares of the oil and gas exploration company’s stock, valued at approximately $1,214,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. Royal Bank of Canada increased its stake in shares of NOV by 15.6% in the 1st quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock valued at $756,000 after acquiring an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NOV by 35.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after purchasing an additional 42,462 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of NOV by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock valued at $16,168,000 after buying an additional 157,385 shares during the period. Focus Partners Wealth acquired a new stake in NOV during the 1st quarter worth $214,000. Finally, Cetera Investment Advisers acquired a new stake in shares of NOV during the second quarter worth about $190,000. Institutional investors own 93.27% of the company’s stock.

Insider Transactions at NOV

In other NOV news, Director David Harrison sold 9,594 shares of the company’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $19.21, for a total value of $184,300.74. Following the transaction, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. This represents a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on NOV shares. Susquehanna raised their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Barclays dropped their target price on NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. Morgan Stanley set a $21.00 price target on NOV in a research note on Wednesday, July 15th. Finally, Zacks Research cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 26th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.31.

NOV Trading Up 0.0%

Shares of NOV stock opened at $21.11 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The business has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $19.85. NOV Inc. has a 1 year low of $12.28 and a 1 year high of $21.93. The company has a market capitalization of $7.52 billion, a price-to-earnings ratio of 81.19 and a beta of 0.94.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The company 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 company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.29 earnings per share. Research analysts forecast that NOV Inc. will post 0.99 EPS for the current year.

NOV Announces Dividend

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

NOV Profile

NOV Inc is a global provider of equipment, technologies and services used in the oil and gas industry. The company supplies products for drilling, well construction, completion and production operations, serving onshore and offshore customers across the energy value chain.

Its offerings include land and offshore drilling equipment, rig systems, drilling tools, tubular-handling equipment, wellbore technologies, completion tools and production systems. NOV also provides aftermarket parts, technical support, repair and maintenance services, and other solutions intended to improve the efficiency, safety and reliability of energy operations.

NOV serves customers in major energy-producing regions around the world through manufacturing, service and distribution operations.