31,296 Shares in NOV Inc. $NOV Acquired by Inceptionr LLC

Inceptionr LLC purchased a new stake in NOV Inc. (NYSE:NOV) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 31,296 shares of the oil and gas exploration company’s stock, valued at approximately $589,000.

Other institutional investors also recently modified their holdings of the company. Towle & Co. bought a new stake in NOV in the 1st quarter valued at about $6,253,000. Sei Investments Co. increased its holdings in shares of NOV by 50.7% during the first quarter. Sei Investments Co. now owns 1,566,087 shares of the oil and gas exploration company’s stock worth $29,458,000 after purchasing an additional 527,220 shares during the period. State of Wyoming raised its position in shares of NOV by 996.1% in the first quarter. State of Wyoming now owns 8,232 shares of the oil and gas exploration company’s stock valued at $155,000 after buying an additional 7,481 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of NOV by 4.4% in the first quarter. Cetera Investment Advisers now owns 101,617 shares of the oil and gas exploration company’s stock valued at $1,911,000 after buying an additional 4,301 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of NOV by 2.3% in the first quarter. First Trust Advisors LP now owns 7,192,735 shares of the oil and gas exploration company’s stock valued at $135,295,000 after buying an additional 158,788 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Stock Up 3.1%

NYSE:NOV opened at $20.75 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. NOV Inc. has a one year low of $11.77 and a one year high of $21.55. The company has a market cap of $7.45 billion, a PE ratio of 86.45 and a beta of 0.91. The firm’s 50 day simple moving average is $19.74 and its 200 day simple moving average is $19.34.

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

NOV Announces Dividend

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

Wall Street Analyst Weigh In

NOV has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Morgan Stanley set a $21.00 price target on NOV in a research report on Wednesday, July 15th. Susquehanna dropped their price target on NOV from $24.00 to $22.00 and set a “positive” rating for the company in a research note on Wednesday, July 8th. The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research note on Wednesday, June 3rd. Finally, Royal Bank Of Canada boosted their target price on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $20.50.

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.