Heartland Advisors Inc. Has $22.46 Million Stock Position in NOV Inc. $NOV

Heartland Advisors Inc. raised its stake in NOV Inc. (NYSE:NOV) by 9.7% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 1,194,332 shares of the oil and gas exploration company’s stock after acquiring an additional 105,142 shares during the period. NOV accounts for about 1.1% of Heartland Advisors Inc.’s holdings, making the stock its 11th biggest holding. Heartland Advisors Inc.’s holdings in NOV were worth $22,465,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC increased 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 acquiring an additional 541 shares in the last quarter. Root Financial Partners LLC raised its holdings in shares of NOV by 39.9% during the first 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 period. State of Michigan Retirement System lifted its position in NOV by 0.7% in the 1st quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock valued at $1,632,000 after acquiring an additional 600 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake 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 worth $115,000 after purchasing an additional 611 shares during the period. Finally, Allworth Financial LP increased its holdings in 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 purchasing an additional 709 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

NYSE:NOV opened at $19.54 on Friday. The stock has a market capitalization of $7.01 billion, a PE ratio of 81.44 and a beta of 0.91. NOV Inc. has a 1-year low of $11.77 and a 1-year high of $21.55. The firm has a fifty day simple moving average of $19.76 and a 200 day simple moving average of $19.18. The company has a current ratio of 2.47, a quick ratio of 1.66 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 (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 business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company earned $0.19 EPS. NOV’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that NOV Inc. will post 0.9 EPS for the current fiscal year.

NOV Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have issued reports on NOV shares. Barclays reissued an “underweight” rating and issued a $21.00 price target (up from $20.00) on shares of NOV in a research note on Thursday, May 7th. Capital One Financial upgraded NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective for the company in a report on Thursday, June 4th. Royal Bank Of Canada lifted their target price on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Evercore upgraded NOV to a “hold” rating in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus upped their price target on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, NOV has a consensus rating of “Hold” and a consensus target price of $20.50.

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.