Norden Group LLC Buys Shares of 10,054 NOV Inc. (NYSE:NOV)

Norden Group LLC bought a new stake in NOV Inc. (NYSE:NOVFree Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,054 shares of the oil and gas exploration company’s stock, valued at approximately $196,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. CWM LLC boosted its position in shares of NOV by 10.8% during the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after buying an additional 536 shares during the period. Nisa Investment Advisors LLC boosted its position in NOV by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock valued at $1,020,000 after purchasing an additional 580 shares during the last quarter. Wedmont Private Capital boosted its position in NOV by 5.2% during the first quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock valued at $263,000 after purchasing an additional 643 shares during the last quarter. Amalgamated Bank boosted its position in NOV by 0.4% during the fourth quarter. Amalgamated Bank now owns 251,686 shares of the oil and gas exploration company’s stock valued at $5,104,000 after purchasing an additional 1,034 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its position in NOV by 7.5% during the first quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock valued at $332,000 after purchasing an additional 1,194 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOV has been the subject of several recent research reports. TD Cowen reduced their price target on NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Susquehanna restated a “positive” rating and issued a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $24.07.

View Our Latest Analysis on NOV

NOV Trading Down 1.7 %

Shares of NYSE:NOV opened at $17.70 on Wednesday. The company has a market capitalization of $7.00 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.56 and a beta of 1.70. NOV Inc. has a 1 year low of $16.77 and a 1 year high of $21.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. The business’s 50 day simple moving average is $18.36 and its 200 day simple moving average is $18.73.

NOV (NYSE:NOVGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 10.21% and a net margin of 11.23%. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 earnings per share. On average, research analysts anticipate that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.69%. This is an increase from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio is currently 12.05%.

About NOV

(Free Report)

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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