46,963 Shares in NOV Inc. $NOV Purchased by State of Wyoming

State of Wyoming bought a new position in NOV Inc. (NYSE:NOV) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 46,963 shares of the oil and gas exploration company’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Root Financial Partners LLC grew its stake in shares of NOV by 39.9% in 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. CIBC Private Wealth Group LLC raised its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 1,978 shares during the last quarter. Rothschild Investment LLC lifted its position in NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 780 shares during the period. Altshuler Shaham Ltd boosted its holdings in NOV by 36.8% in the first quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 546 shares during the last quarter. Finally, Allworth Financial LP boosted its holdings in NOV by 37.9% in the fourth 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 during the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In related news, Director David D. Harrison sold 9,594 shares of NOV 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 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 is accessible through the SEC website. Corporate insiders own 1.15% of the company’s stock.

NOV Stock Performance

Shares of NYSE NOV opened at $21.17 on Friday. NOV Inc. has a 12-month low of $12.09 and a 12-month high of $21.55. The firm has a market capitalization of $7.55 billion, a price-to-earnings ratio of 81.43 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. The firm has a 50 day moving average of $19.56 and a 200 day moving average of $19.58.

NOV (NYSE:NOV) last released its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. On average, research analysts anticipate that NOV Inc. will post 0.94 earnings per share for the current year.

NOV Announces Dividend

The business also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio (DPR) is currently 138.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NOV. Evercore upgraded shares of NOV to a “hold” rating in a research note on Wednesday, April 29th. TD Cowen raised their price target on NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Barclays cut their price objective on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Stifel Nicolaus upped 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. Finally, Capital One Financial raised NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.31.

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.