Janney Montgomery Scott LLC Takes Position in NOV Inc. $NOV

Janney Montgomery Scott LLC acquired a new stake in shares of NOV Inc. (NYSE:NOV) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 43,503 shares of the oil and gas exploration company’s stock, valued at approximately $818,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. V Square Quantitative Management LLC acquired a new position in NOV in the 4th quarter valued at about $28,000. CIBC Private Wealth Group LLC boosted its stake in shares of NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 1,978 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 780 shares in the last quarter. Allworth Financial LP raised its position in shares of NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 709 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new position in shares of NOV during the fourth quarter valued at approximately $68,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NOV stock opened at $19.15 on Tuesday. NOV Inc. has a 1 year low of $11.77 and a 1 year high of $21.55. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. The firm has a 50 day moving average price of $19.78 and a 200 day moving average price of $19.10. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 79.78 and a beta of 0.91.

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

NOV Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.09 dividend. This represents a dividend yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio (DPR) is 150.00%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOV. Royal Bank Of Canada raised their target price on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. The Goldman Sachs Group set a $19.00 price target on NOV in a research note on Wednesday, June 3rd. Stifel Nicolaus raised their price objective on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Barclays reaffirmed an “underweight” rating and issued a $21.00 price objective (up from $20.00) on shares of NOV in a research report on Thursday, May 7th. Finally, Morgan Stanley increased their target price on NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.43.

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.