Quantinno Capital Management LP Increases Position in NOV Inc. $NOV

Quantinno Capital Management LP lifted its holdings in shares of NOV Inc. (NYSE:NOV) by 24.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,086 shares of the oil and gas exploration company’s stock after acquiring an additional 44,235 shares during the quarter. Quantinno Capital Management LP owned 0.06% of NOV worth $4,196,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Fifth Third Wealth Advisors LLC grew its position in NOV by 4.5% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock worth $235,000 after acquiring an additional 541 shares during the last quarter. Root Financial Partners LLC lifted its position in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 552 shares during the last quarter. State of Michigan Retirement System lifted its position in NOV by 0.7% in the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock valued at $1,632,000 after purchasing an additional 600 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of NOV by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock valued at $115,000 after purchasing an additional 611 shares during the period. Finally, Allworth Financial LP grew its holdings in shares of NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Price Performance

NOV opened at $19.62 on Friday. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.00 billion, a price-to-earnings ratio of 75.48 and a beta of 0.92. The stock has a fifty day simple moving average of $19.53 and a two-hundred day simple moving average of $19.49. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55.

NOV (NYSE:NOV) last released its earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $0.29 earnings per share. Research analysts predict that NOV Inc. will post 0.94 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued 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 is presently 138.46%.

Analyst Ratings Changes

A number of equities research analysts recently commented on NOV shares. TD Cowen upped their price target on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Evercore raised shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. Barclays dropped their target price on shares of NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Royal Bank Of Canada upped their price target on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Citigroup lifted their price objective on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $21.31.

Insider Activity at NOV

In related news, Director David D. Harrison sold 9,594 shares of the stock in a transaction on Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the sale, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.15% of the stock is owned by company insiders.

About NOV

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.