Fiduciary Alliance LLC Acquires 70,151 Shares of NOV Inc. $NOV

Fiduciary Alliance LLC lifted its holdings in NOV Inc. (NYSE:NOV) by 32.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 288,637 shares of the oil and gas exploration company’s stock after buying an additional 70,151 shares during the quarter. Fiduciary Alliance LLC owned approximately 0.08% of NOV worth $5,490,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in NOV by 1,743.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock valued at $79,080,000 after acquiring an additional 4,785,015 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of NOV by 401.9% during the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after purchasing an additional 2,534,815 shares during the period. American Century Companies Inc. boosted its stake in shares of NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock valued at $100,654,000 after purchasing an additional 2,304,975 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of NOV by 76.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,721,997 shares of the oil and gas exploration company’s stock worth $42,545,000 after purchasing an additional 1,178,838 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in NOV in the 3rd quarter worth about $14,114,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Down 2.0%

NYSE:NOV opened at $18.38 on Thursday. 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 1-year low of $11.77 and a 1-year high of $21.55. The company has a 50-day moving average of $20.14 and a 200 day moving average of $18.87. The firm has a market cap of $6.59 billion, a PE ratio of 76.57 and a beta of 0.89.

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

NOV Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently weighed in on NOV. Citigroup lifted their price objective on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Capital One Financial upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, June 4th. TD Cowen raised shares of NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Morgan Stanley lifted their price target on shares of NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Finally, The Goldman Sachs Group set a $19.00 price target on NOV in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, NOV presently has a consensus rating of “Hold” and an average target price of $20.57.

About NOV

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.