43,503 Shares in NOV Inc. $NOV Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new stake in NOV Inc. (NYSE:NOV) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 43,503 shares of the oil and gas exploration company’s stock, valued at approximately $818,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. boosted its stake in shares of NOV by 203.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock valued at $1,343,000 after buying an additional 57,634 shares in the last quarter. Oldfield Partners LLP grew its holdings in NOV by 5.8% during the fourth quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock worth $78,859,000 after acquiring an additional 276,961 shares during the period. Earnest Partners LLC raised its position in NOV by 1.9% in the third quarter. Earnest Partners LLC now owns 4,106,951 shares of the oil and gas exploration company’s stock worth $54,417,000 after acquiring an additional 77,429 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in NOV by 99.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 65,626 shares of the oil and gas exploration company’s stock valued at $1,109,000 after acquiring an additional 32,675 shares during the period. Finally, Fiduciary Alliance LLC lifted its holdings in NOV by 183.9% in the fourth quarter. Fiduciary Alliance LLC now owns 218,486 shares of the oil and gas exploration company’s stock valued at $3,415,000 after acquiring an additional 141,525 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 1.4%

NYSE:NOV opened at $19.15 on Tuesday. NOV Inc. has a 52-week low of $11.77 and a 52-week high of $21.55. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $19.78 and a 200-day simple moving average of $19.10. The company has a market capitalization of $6.87 billion, a PE ratio of 79.78 and a beta of 0.91.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The business had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. NOV’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. On average, equities research analysts expect that NOV Inc. will post 0.9 earnings per share for the current fiscal year.

NOV Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NOV. TD Cowen raised shares of NOV from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Thursday, June 4th. Morgan Stanley upped their target price on shares of NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. Evercore raised shares of NOV to a “hold” rating in a report on Wednesday, April 29th. Finally, Royal Bank Of Canada lifted their price target on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One equities research 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 given a Sell rating to the company. According to MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average price target of $20.43.

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.