Y Intercept Hong Kong Ltd Buys Shares of 123,899 NOV Inc. $NOV

Y Intercept Hong Kong Ltd bought a new position in NOV Inc. (NYSE:NOV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 123,899 shares of the oil and gas exploration company’s stock, valued at approximately $2,331,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of NOV in the 4th quarter worth approximately $28,000. Root Financial Partners LLC boosted its stake in shares of NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 1,978 shares during the period. Rothschild Investment LLC increased its stake in shares of NOV by 50.1% in the 4th 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. Finally, Allworth Financial LP increased its stake in shares of 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 worth $40,000 after purchasing an additional 709 shares in the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Citigroup lifted their target price on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Thursday, June 18th. Royal Bank Of Canada upped their price target on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research report on Wednesday, April 29th. Evercore raised NOV to a “hold” rating in a research report on Wednesday, April 29th. Barclays reissued an “underweight” rating and issued a $21.00 target price (up from $20.00) on shares of NOV in a report on Thursday, May 7th. Finally, Morgan Stanley raised their target price on shares of NOV from $18.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $20.43.

NOV Price Performance

NYSE:NOV opened at $18.76 on Thursday. The business’s 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $19.04. NOV Inc. has a 52 week low of $11.77 and a 52 week high of $21.55. The stock has a market cap of $6.73 billion, a PE ratio of 78.16 and a beta of 0.91. 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 released its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a return on equity of 3.34% and a net margin of 1.05%.The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same period last year, the company earned $0.19 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that NOV Inc. will post 0.9 EPS for the current fiscal year.

NOV Dividend Announcement

The firm 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. This represents a yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is presently 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.