Lee Danner & Bass Inc. Has $5.28 Million Position in NOV Inc. $NOV

Lee Danner & Bass Inc. lifted its holdings in NOV Inc. (NYSE:NOV) by 55.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,800 shares of the oil and gas exploration company’s stock after acquiring an additional 100,000 shares during the period. Lee Danner & Bass Inc. owned approximately 0.08% of NOV worth $5,282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in NOV. Dimensional Fund Advisors LP increased its holdings in NOV by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 18,972,635 shares of the oil and gas exploration company’s stock worth $296,547,000 after purchasing an additional 394,582 shares in the last quarter. First Trust Advisors LP lifted its stake in NOV by 0.4% in the fourth quarter. First Trust Advisors LP now owns 7,033,947 shares of the oil and gas exploration company’s stock valued at $109,941,000 after buying an additional 25,610 shares during the period. Bank of America Corp DE boosted its holdings in shares of NOV by 14.8% during the 3rd quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock worth $70,839,000 after buying an additional 689,427 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NOV by 1,743.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after buying an additional 4,785,015 shares during the period. Finally, Oldfield Partners LLP grew its position in shares of NOV by 5.8% during the 4th quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock worth $78,859,000 after buying an additional 276,961 shares during the period. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NOV shares. Evercore upgraded shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. Stifel Nicolaus raised their price target on shares of NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Susquehanna upped their price objective on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Morgan Stanley increased their price objective 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. Finally, Barclays restated an “underweight” rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $20.57.

NOV Stock Performance

NYSE NOV opened at $18.02 on Friday. The company has a fifty day simple moving average of $20.02 and a 200 day simple moving average of $18.96. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.47 billion, a P/E ratio of 75.11 and a beta of 0.91.

NOV (NYSE:NOV) last announced its quarterly earnings results 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). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the firm posted $0.19 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that NOV Inc. will post 0.9 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.09 dividend. This represents a dividend yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is currently 150.00%.

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.