SG Americas Securities LLC Has $6.79 Million Stake in NOV Inc. $NOV

SG Americas Securities LLC grew its position in NOV Inc. (NYSE:NOV) by 749.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 360,729 shares of the oil and gas exploration company’s stock after purchasing an additional 318,248 shares during the period. SG Americas Securities LLC’s holdings in NOV were worth $6,785,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. 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 grew its stake in shares of NOV by 37.9% during the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after acquiring an additional 709 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of NOV by 0.6% in the third 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 purchasing an additional 724 shares during the last quarter. Quadrant Capital Group LLC lifted its position in shares of NOV by 2.6% in the third quarter. Quadrant Capital Group LLC now owns 29,023 shares of the oil and gas exploration company’s stock worth $385,000 after purchasing an additional 743 shares in the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 780 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Wednesday. Capital One Financial upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Thursday, June 4th. Susquehanna raised their price objective on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Stifel Nicolaus upped their target price on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. 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 given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $20.57.

NOV Price Performance

NYSE:NOV opened at $18.61 on Monday. NOV Inc. has a 12-month low of $11.77 and a 12-month high of $21.55. The firm has a market capitalization of $6.68 billion, a price-to-earnings ratio of 77.57 and a beta of 0.89. The stock’s 50 day moving average price is $20.13 and its two-hundred day moving average price is $18.91. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its earnings results 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). The business 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 business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. On average, analysts anticipate that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Announces Dividend

The business also recently disclosed a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given 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 payout ratio is 150.00%.

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.