Dimensional Fund Advisors LP Buys 431,684 Shares of NOV Inc. $NOV

Dimensional Fund Advisors LP grew its position in NOV Inc. (NYSE:NOV) by 2.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 19,404,319 shares of the oil and gas exploration company’s stock after purchasing an additional 431,684 shares during the quarter. Dimensional Fund Advisors LP owned 0.05% of NOV worth $364,987,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NOV. Crossmark Global Holdings Inc. raised its position in 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. Oldfield Partners LLP raised its position in NOV by 5.8% in the fourth quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock worth $78,859,000 after acquiring an additional 276,961 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in NOV by 99.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 65,626 shares of the oil and gas exploration company’s stock worth $1,109,000 after purchasing an additional 32,675 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of NOV in the first quarter worth about $2,331,000. Finally, Fiduciary Alliance LLC raised its stake in NOV by 183.9% during the 4th quarter. Fiduciary Alliance LLC now owns 218,486 shares of the oil and gas exploration company’s stock worth $3,415,000 after acquiring an additional 141,525 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NYSE NOV opened at $20.16 on Wednesday. NOV Inc. has a 52-week low of $11.77 and a 52-week high of $21.55. The firm’s 50 day moving average price is $19.75 and its 200-day moving average price is $19.27. The company has a market cap of $7.24 billion, a PE ratio of 84.02 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period in the previous year, the firm posted $0.19 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that NOV Inc. will post 0.9 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were issued a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s payout ratio is currently 150.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group set a $19.00 price objective on NOV in a research report on Wednesday, June 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Capital One Financial raised NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Thursday, June 4th. Barclays reaffirmed an “underweight” rating and set a $21.00 price target (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Finally, Citigroup boosted their price objective on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $20.50.

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.