Heartland Advisors Inc. Purchases Shares of 1,108,587 NOV Inc. $NOV

Heartland Advisors Inc. acquired a new position in NOV Inc. (NYSE:NOV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,108,587 shares of the oil and gas exploration company’s stock, valued at approximately $20,564,000. Heartland Advisors Inc. owned 0.31% of NOV as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of NOV during the second quarter valued at approximately $697,976,000. Pzena Investment Management LLC bought a new stake in NOV in the second quarter valued at $674,776,000. Dimensional Fund Advisors LP increased its position in NOV by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,404,319 shares of the oil and gas exploration company’s stock valued at $364,987,000 after purchasing an additional 431,684 shares during the period. First Trust Advisors LP raised its holdings in NOV by 2.3% in the 1st quarter. First Trust Advisors LP now owns 7,192,735 shares of the oil and gas exploration company’s stock worth $135,295,000 after purchasing an additional 158,788 shares in the last quarter. Finally, Bank of America Corp DE raised its stake in NOV by 14.8% in the third 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. 93.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director David D. Harrison sold 9,594 shares of the business’s 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is currently owned by insiders.

NOV Stock Performance

Shares of NOV stock opened at $20.46 on Friday. NOV Inc. has a 1 year low of $12.28 and a 1 year high of $21.67. The firm’s 50-day moving average is $19.53 and its 200 day moving average is $19.66. The stock has a market cap of $7.29 billion, a price-to-earnings 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.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The business 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%. NOV’s revenue was down 2.5% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Sell-side analysts anticipate that NOV Inc. will post 0.97 EPS for the current fiscal year.

NOV Dividend Announcement

The company 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 dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. NOV’s dividend payout ratio (DPR) is 138.46%.

Analyst Upgrades and Downgrades

NOV has been the subject of a number of research analyst reports. Citigroup raised their target price on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Barclays reduced their price target on NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. Finally, Zacks Research raised shares of NOV from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NOV presently has an average rating of “Hold” and a consensus price target of $21.31.

NOV Company 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.