Triumph Capital Management Purchases Shares of 10,713 NOV Inc. (NYSE:NOV)

Triumph Capital Management acquired a new stake in NOV Inc. (NYSE:NOV) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,713 shares of the oil and gas exploration company’s stock, valued at approximately $217,000.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its stake in NOV by 18.4% during the 4th quarter. Victory Capital Management Inc. now owns 85,696 shares of the oil and gas exploration company’s stock valued at $1,738,000 after acquiring an additional 13,319 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of NOV by 4.2% during the 4th quarter. Van ECK Associates Corp now owns 5,687,556 shares of the oil and gas exploration company’s stock valued at $115,343,000 after purchasing an additional 231,464 shares in the last quarter. Retirement Systems of Alabama boosted its holdings in shares of NOV by 6.8% in the fourth quarter. Retirement Systems of Alabama now owns 923,174 shares of the oil and gas exploration company’s stock worth $18,722,000 after buying an additional 58,700 shares during the period. GAMMA Investing LLC acquired a new position in shares of NOV in the fourth quarter worth about $61,000. Finally, CWM LLC boosted its holdings in shares of NOV by 10.8% during the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen cut their price objective on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday. Stifel Nicolaus cut their price target on NOV from $28.00 to $26.00 and set a “buy” rating for the company in a report on Monday, February 5th. Benchmark cut NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Raymond James dropped their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Finally, StockNews.com raised NOV from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $24.07.

NOV Price Performance

Shares of NYSE:NOV opened at $18.56 on Friday. The stock’s 50 day moving average is $18.69 and its 200-day moving average is $19.13. NOV Inc. has a twelve month low of $14.05 and a twelve month high of $21.91. The firm has a market capitalization of $7.34 billion, a price-to-earnings ratio of 7.45, a PEG ratio of 0.79 and a beta of 1.74. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. NOV’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that NOV Inc. will post 1.54 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.08%. NOV’s dividend payout ratio (DPR) is currently 8.03%.

Insider Buying and Selling

In related news, CAO Christy Lynn Novak sold 3,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total transaction of $61,005.00. Following the completion of the sale, the chief accounting officer now owns 114,212 shares in the company, valued at $1,990,715.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.85% of the stock is currently owned by corporate insiders.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.