Heartland Advisors Inc. Sells 35,890 Shares of NOV Inc. $NOV

Heartland Advisors Inc. decreased its position in shares of NOV Inc. (NYSE:NOV) by 3.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,089,190 shares of the oil and gas exploration company’s stock after selling 35,890 shares during the quarter. NOV makes up 0.9% of Heartland Advisors Inc.’s holdings, making the stock its 24th largest holding. Heartland Advisors Inc. owned about 0.30% of NOV worth $17,024,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in NOV during the fourth quarter valued at approximately $28,000. Rothschild Investment LLC boosted its position in NOV by 50.1% during the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares in the last quarter. Allworth Financial LP boosted its position 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 valued at $40,000 after acquiring an additional 709 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of NOV by 88.4% in the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock valued at $67,000 after acquiring an additional 2,385 shares during the period. Finally, Exchange Traded Concepts LLC bought a new position in shares of NOV in the 4th quarter worth $68,000. 93.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus raised their price objective on NOV from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Susquehanna boosted their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a research report on Thursday, June 4th. Finally, Royal Bank Of Canada boosted their price objective on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.43.

NOV Trading Up 1.3%

Shares of NYSE:NOV opened at $21.09 on Thursday. The business’s 50-day moving average is $20.07 and its 200 day moving average is $18.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. NOV Inc. has a 1 year low of $11.77 and a 1 year high of $21.55. The firm has a market capitalization of $7.57 billion, a P/E ratio of 87.87 and a beta of 0.89.

NOV (NYSE:NOV) last issued its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the previous year, the firm posted $0.19 EPS. NOV’s revenue was down 2.4% on a year-over-year basis. On average, research analysts predict that NOV Inc. will post 0.91 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a special dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be given a dividend of $0.09 per share. This represents a yield of 180.0%. The ex-dividend date of this dividend is Friday, June 12th. NOV’s payout ratio is currently 150.00%.

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.