Lee Danner & Bass Inc. Buys 100,000 Shares of NOV Inc. $NOV

Lee Danner & Bass Inc. lifted its stake in shares of NOV Inc. (NYSE:NOV) by 55.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 280,800 shares of the oil and gas exploration company’s stock after buying an additional 100,000 shares during the period. Lee Danner & Bass Inc.’s holdings in NOV were worth $5,282,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Royal Bank of Canada boosted its holdings in NOV by 15.6% during the 1st quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock worth $756,000 after acquiring an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 valued at $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 lifted its position in shares of NOV by 17.4% during the first 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 purchasing an additional 157,385 shares in the last quarter. Focus Partners Wealth purchased a new position in NOV during the first quarter worth about $214,000. Finally, Cetera Investment Advisers bought a new stake in NOV in the 2nd quarter worth about $190,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Up 0.0%

NOV opened at $18.02 on Friday. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55. The company’s 50-day moving average price is $20.02 and its two-hundred day moving average price is $18.96. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 75.11 and a beta of 0.91. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. As a group, equities analysts expect that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Announces Dividend

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

Analyst Ratings Changes

NOV has been the subject of several analyst reports. Barclays reiterated an “underweight” rating and issued a $21.00 price objective (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Citigroup increased their price target on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Susquehanna lifted their price target on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Stifel Nicolaus boosted their price objective on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.57.

NOV Company 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.