Quantinno Capital Management LP Raises Stock Position in NOV Inc. $NOV

Quantinno Capital Management LP boosted its stake in NOV Inc. (NYSE:NOV) by 24.7% in the first quarter, HoldingsChannel reports. The firm owned 223,086 shares of the oil and gas exploration company’s stock after acquiring an additional 44,235 shares during the period. Quantinno Capital Management LP’s holdings in NOV were worth $4,196,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC bought a new stake in shares of NOV in the fourth quarter worth $28,000. Root Financial Partners LLC lifted its holdings in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 552 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in NOV by 659.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 1,978 shares during the period. Rothschild Investment LLC boosted its position in NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 780 shares during the last quarter. Finally, Allworth Financial LP grew its stake in shares of NOV by 37.9% during the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after purchasing an additional 709 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NOV has been the topic of several recent research reports. Zacks Research upgraded shares of NOV from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Thursday, June 4th. TD Cowen increased their price target on shares of NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Citigroup lifted their price target on shares of NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley set a $21.00 price objective on shares of NOV in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.31.

NOV Trading Down 1.4%

Shares of NOV stock opened at $19.62 on Friday. NOV Inc. has a 52-week low of $11.77 and a 52-week high of $21.55. 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 firm has a market capitalization of $7.00 billion, a PE ratio of 75.48 and a beta of 0.92. The stock has a fifty day simple moving average of $19.53 and a two-hundred day simple moving average of $19.49.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. On average, analysts predict that NOV Inc. will post 0.94 EPS for the current fiscal year.

NOV Dividend Announcement

The firm also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is presently 138.46%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.15% of the stock is currently owned by company insiders.

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.