MQS Management LLC Makes New $607,000 Investment in NOV Inc. $NOV

MQS Management LLC purchased a new stake in NOV Inc. (NYSE:NOV) during the 1st quarter, Holdings Channel.com reports. The firm purchased 32,255 shares of the oil and gas exploration company’s stock, valued at approximately $607,000.

A number of other institutional investors also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC boosted its position in shares of NOV by 4.5% during the first quarter. Fifth Third Wealth Advisors LLC now owns 12,484 shares of the oil and gas exploration company’s stock worth $235,000 after buying an additional 541 shares during the period. EverSource Wealth Advisors LLC raised its position in NOV by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 7,384 shares of the oil and gas exploration company’s stock valued at $115,000 after buying an additional 611 shares during the last quarter. Allworth Financial LP raised its position in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after buying an additional 709 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in NOV by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 116,720 shares of the oil and gas exploration company’s stock valued at $1,547,000 after acquiring an additional 724 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its position in NOV by 2.6% during the 3rd quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock worth $385,000 after acquiring an additional 743 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Barclays reissued an “underweight” rating and issued a $21.00 price objective (up from $20.00) on shares of NOV in a research report on Thursday, May 7th. Evercore raised shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. Royal Bank Of Canada lifted their price target on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley boosted their price target on shares of NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $20.57.

NOV Stock Up 0.8%

NYSE:NOV opened at $18.57 on Wednesday. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 77.39 and a beta of 0.89. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $18.94.

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

NOV Dividend Announcement

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

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.