Vise Technologies Inc. Buys Shares of 47,832 NOV Inc. $NOV

Vise Technologies Inc. purchased a new position in shares of NOV Inc. (NYSE:NOV) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 47,832 shares of the oil and gas exploration company’s stock, valued at approximately $887,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Root Financial Partners LLC increased its position in NOV by 39.9% during the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 552 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of NOV in the second quarter valued at approximately $37,000. Altshuler Shaham Ltd lifted its stake 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 worth $38,000 after buying an additional 546 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of NOV during the 1st quarter worth $40,000. Finally, CIBC Private Wealth Group LLC grew its stake in NOV by 659.3% in the 4th 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 buying an additional 1,978 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 0.2%

Shares of NOV stock opened at $20.46 on Monday. The firm has a market capitalization of $7.29 billion, a PE ratio of 78.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The company’s fifty day moving average price is $19.53 and its two-hundred day moving average price is $19.67. NOV Inc. has a 52-week low of $12.28 and a 52-week high of $21.67.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period last year, the firm earned $0.29 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. On average, analysts expect that NOV Inc. will post 0.99 EPS for the current year.

NOV Dividend Announcement

The firm also recently declared 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. This represents a $0.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio is 138.46%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NOV. Zacks Research raised NOV from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Evercore upgraded NOV to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Susquehanna raised their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. Finally, Royal Bank Of Canada boosted 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. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, NOV currently has an average rating of “Hold” and a consensus target price of $21.31.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 9,594 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the transaction, the director owned 126,763 shares in the company, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.15% of the stock is currently owned by corporate 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.