United Capital Financial Advisors LLC Takes $839,000 Position in NOV Inc. $NOV

United Capital Financial Advisors LLC purchased a new stake in NOV Inc. (NYSE:NOV) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 45,250 shares of the oil and gas exploration company’s stock, valued at approximately $839,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada raised 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 buying an additional 6,711 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of NOV by 35.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after buying an additional 42,462 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NOV by 17.4% in 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 worth $16,168,000 after acquiring an additional 157,385 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of NOV in the first quarter worth approximately $214,000. Finally, Cetera Investment Advisers acquired a new stake in shares of NOV during the second quarter valued at approximately $190,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NYSE NOV opened at $20.99 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. NOV Inc. has a one year low of $12.28 and a one year high of $21.67. The business’s 50-day moving average price is $19.63 and its two-hundred day moving average price is $19.72. The company has a market capitalization of $7.48 billion, a P/E ratio of 80.73 and a beta of 0.92.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The company had revenue of $2.13 billion during 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 quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. Analysts anticipate that NOV Inc. will post 0.99 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm 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 dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio (DPR) is presently 138.46%.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 9,594 shares of NOV stock in a transaction that occurred 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 completion of the sale, the director directly owned 126,763 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

NOV has been the subject of a number of recent analyst reports. 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. Morgan Stanley set a $21.00 target price on shares of NOV in a research note on Wednesday, July 15th. TD Cowen increased their target price on NOV from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Zacks Research cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Finally, Barclays lowered their price target on NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average 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.