Vise Technologies Inc. Makes New Investment in NOV Inc. $NOV

Vise Technologies Inc. bought a new stake in NOV Inc. (NYSE:NOV) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 47,832 shares of the oil and gas exploration company’s stock, valued at approximately $887,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of NOV during the second quarter worth approximately $697,976,000. Pzena Investment Management LLC acquired a new position in shares of NOV in the 2nd quarter worth approximately $674,776,000. Price T Rowe Associates Inc. MD grew its position in NOV by 1,743.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after acquiring an additional 4,785,015 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in NOV during the 2nd quarter valued at $54,767,000. Finally, Ameriprise Financial Inc. increased its holdings in NOV by 401.9% during the 2nd 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 in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Stock Performance

NOV stock opened at $20.46 on Monday. The company has a market cap of $7.29 billion, a PE ratio of 78.69 and a beta of 0.92. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27. NOV Inc. has a 1 year low of $12.28 and a 1 year high of $21.67. The company’s 50-day moving average is $19.53 and its two-hundred day moving average is $19.67.

NOV (NYSE:NOV) last issued its quarterly earnings results 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 company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. NOV’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. Equities analysts anticipate that NOV Inc. will post 0.99 earnings per share for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s payout ratio is currently 138.46%.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 9,594 shares of the company’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the sale, the director owned 126,763 shares in the company, valued at approximately $2,435,117.23. The trade was a 7.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NOV. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. Morgan Stanley set a $21.00 target price on NOV in a research note on Wednesday, July 15th. Susquehanna lifted their price target on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Thursday, July 30th. 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. Finally, TD Cowen raised their price objective on shares of NOV from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, NOV presently has an average rating of “Hold” and an average price target of $21.31.

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.