Parvin Asset Management LLC Purchases 41,350 Shares of NOV Inc. $NOV

Parvin Asset Management LLC lifted its position in shares of NOV Inc. (NYSE:NOV) by 193.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,700 shares of the oil and gas exploration company’s stock after purchasing an additional 41,350 shares during the quarter. Parvin Asset Management LLC’s holdings in NOV were worth $980,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors boosted its position in shares of NOV by 3.9% during the fourth quarter. Captrust Financial Advisors now owns 39,032 shares of the oil and gas exploration company’s stock valued at $610,000 after purchasing an additional 1,465 shares in the last quarter. &PARTNERS boosted its position in shares of NOV by 20.6% during the fourth quarter. &PARTNERS now owns 57,741 shares of the oil and gas exploration company’s stock valued at $901,000 after purchasing an additional 9,852 shares in the last quarter. ExodusPoint Capital Management LP bought a new stake in shares of NOV during the fourth quarter valued at approximately $4,436,000. Squarepoint Ops LLC boosted its position in shares of NOV by 66.8% during the fourth quarter. Squarepoint Ops LLC now owns 2,021,839 shares of the oil and gas exploration company’s stock valued at $31,601,000 after purchasing an additional 809,373 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in shares of NOV by 2.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 64,217 shares of the oil and gas exploration company’s stock valued at $1,004,000 after purchasing an additional 1,709 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Down 2.8%

Shares of NYSE:NOV opened at $19.95 on Wednesday. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55. The stock has a fifty day simple moving average of $20.22 and a two-hundred day simple moving average of $18.74. 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 stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 83.12 and a beta of 0.89.

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

NOV Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NOV shares. Barclays reiterated an “underweight” rating and set a $21.00 price objective (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Evercore upgraded NOV to a “hold” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada lifted their price objective on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research note on Friday, March 27th. Finally, Morgan Stanley lifted their price objective on NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.