91,306 Shares in NOV Inc. $NOV Acquired by Old West Investment Management LLC

Old West Investment Management LLC acquired a new position in shares of NOV Inc. (NYSE:NOV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 91,306 shares of the oil and gas exploration company’s stock, valued at approximately $1,694,000.

A number of other hedge funds and other institutional investors have also modified their holdings of NOV. Bank of New York Mellon Corp purchased a new position in shares of NOV during the 2nd quarter worth $54,767,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of NOV in the second quarter valued at about $245,000. State of Wyoming purchased a new stake in shares of NOV in the second quarter valued at about $871,000. GSA Capital Partners LLP acquired a new stake in NOV during the second quarter worth about $289,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in NOV during the second quarter worth about $2,869,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director David D. Harrison sold 9,594 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the transaction, the director directly owned 126,763 shares in the company, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.15% of the stock is owned by company insiders.

NOV Price Performance

Shares of NOV opened at $21.17 on Monday. NOV Inc. has a 1-year low of $12.09 and a 1-year high of $21.55. The stock has a market cap of $7.55 billion, a PE ratio of 81.43 and a beta of 0.92. The firm has a 50-day simple moving average of $19.56 and a two-hundred day simple moving average of $19.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. As a group, analysts forecast that NOV Inc. will post 0.94 EPS for the current year.

NOV Announces Dividend

The company also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were paid a dividend of $0.09 per share. This represents a yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is 138.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NOV shares. TD Cowen boosted their target price on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. Barclays reduced their price target on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Finally, Susquehanna raised their target price on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $21.31.

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.