J. Goldman & Co LP Invests $1.35 Million in NOV Inc. $NOV

J. Goldman & Co LP bought a new stake in NOV Inc. (NYSE:NOV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 72,977 shares of the oil and gas exploration company’s stock, valued at approximately $1,354,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Fifth Third Wealth Advisors LLC boosted its holdings in NOV by 4.5% in 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. Altshuler Shaham Ltd increased its holdings in shares of NOV by 36.8% during the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after acquiring an additional 546 shares in the last quarter. Root Financial Partners LLC raised its position 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 purchasing an additional 552 shares during the period. State of Michigan Retirement System raised its position in shares of NOV by 0.7% during the first quarter. State of Michigan Retirement System now owns 86,777 shares of the oil and gas exploration company’s stock worth $1,632,000 after purchasing an additional 600 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of 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 in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at NOV

In related news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the transaction, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NOV has been the subject of a number of recent research reports. Susquehanna boosted their price target on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Evercore raised shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. Citigroup lifted their price objective on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Morgan Stanley set a $21.00 target price on shares of NOV in a research report on Wednesday, July 15th. Finally, Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target on the stock in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, NOV presently has a consensus rating of “Hold” and an average target price of $21.31.

NOV Trading Up 1.0%

Shares of NOV stock opened at $19.95 on Wednesday. The company has a market capitalization of $7.11 billion, a P/E ratio of 76.73 and a beta of 0.92. The stock has a fifty day simple moving average of $19.52 and a 200 day simple moving average of $19.68. NOV Inc. has a 12-month low of $12.28 and a 12-month high of $21.67. 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 (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The business’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, sell-side analysts anticipate that NOV Inc. will post 0.99 earnings per share for the current fiscal year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio (DPR) is presently 138.46%.

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.