69,049 Shares in NOV Inc. $NOV Purchased by Wealthfront Advisers LLC

Wealthfront Advisers LLC acquired a new position in shares of NOV Inc. (NYSE:NOV) during the second quarter, HoldingsChannel reports. The fund acquired 69,049 shares of the oil and gas exploration company’s stock, valued at approximately $1,281,000.

A number of other institutional investors also recently modified their holdings of the stock. Fifth Third Wealth Advisors LLC lifted its position in shares of NOV by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock worth $235,000 after purchasing an additional 541 shares in the last quarter. Altshuler Shaham Ltd increased its holdings in shares of NOV by 36.8% in the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 546 shares in the last quarter. Root Financial Partners LLC increased its holdings in shares of 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 purchasing an additional 552 shares in the last quarter. State of Michigan Retirement System raised its position in NOV by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock worth $1,632,000 after purchasing an additional 600 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in NOV by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock worth $115,000 after buying an additional 611 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 9,594 shares of NOV stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the transaction, the director directly owned 126,763 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Insiders own 1.15% of the company’s stock.

NOV Stock Up 0.9%

Shares of NYSE NOV opened at $20.46 on Friday. The stock has a market cap of $7.29 billion, a P/E ratio of 78.69 and a beta of 0.92. The firm has a 50 day moving average price of $19.53 and a 200 day moving average price of $19.66. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. NOV Inc. has a 52-week low of $12.28 and a 52-week high of $21.67.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, topping 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 business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Analysts expect that NOV Inc. will post 0.97 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a $0.09 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. NOV’s dividend payout ratio is currently 138.46%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Evercore raised NOV to a “hold” rating in a research note on Wednesday, April 29th. Zacks Research upgraded NOV from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Morgan Stanley set a $21.00 target price on shares of NOV in a research report on Wednesday, July 15th. Capital One Financial upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research report on Thursday, June 4th. Finally, Susquehanna increased their price objective on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.31.

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.