Wealthfront Advisers LLC Buys New Shares in NOV Inc. $NOV

Wealthfront Advisers LLC bought a new position in shares of NOV Inc. (NYSE:NOV) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 69,049 shares of the oil and gas exploration company’s stock, valued at approximately $1,281,000.

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in NOV by 20.4% in the 1st quarter. California State Teachers Retirement System now owns 422,834 shares of the oil and gas exploration company’s stock valued at $7,954,000 after buying an additional 71,754 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of NOV by 203.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock worth $1,343,000 after acquiring an additional 57,634 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of NOV during the 1st quarter valued at about $2,331,000. Vest Financial LLC boosted its position in shares of NOV by 13.5% during the 4th quarter. Vest Financial LLC now owns 430,231 shares of the oil and gas exploration company’s stock valued at $6,725,000 after acquiring an additional 51,175 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in NOV by 749.2% in the first quarter. SG Americas Securities LLC now owns 360,729 shares of the oil and gas exploration company’s stock valued at $6,785,000 after acquiring an additional 318,248 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Up 0.9%

Shares of NOV stock opened at $20.46 on Friday. The company has a market capitalization of $7.29 billion, a P/E ratio of 78.69 and a beta of 0.92. NOV Inc. has a 12-month low of $12.28 and a 12-month high of $21.67. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average price of $19.53 and a 200 day moving average price of $19.66.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.29 earnings per share. Research analysts forecast that NOV Inc. will post 0.97 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s payout ratio is presently 138.46%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NOV shares. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research note on Thursday, June 4th. Barclays dropped their target price on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Evercore upgraded NOV to a “hold” rating in a research report on Wednesday, April 29th. Finally, TD Cowen boosted their price target on NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $21.31.

Insider Buying and Selling

In related news, Director David D. Harrison sold 9,594 shares of the stock in a transaction that occurred 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 in the company, valued at $2,435,117.23. This represents a 7.04% decrease in their position. The transaction 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 company insiders.

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.