Mercer Global Advisors Inc. ADV Makes New $78,000 Investment in NOV Inc. (NYSE:NOV)

Mercer Global Advisors Inc. ADV purchased a new position in NOV Inc. (NYSE:NOV) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,087 shares of the oil and gas exploration company’s stock, valued at approximately $78,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital lifted its stake in shares of NOV by 5.2% during the 1st quarter. Wedmont Private Capital now owns 12,992 shares of the oil and gas exploration company’s stock valued at $263,000 after buying an additional 643 shares in the last quarter. Mather Group LLC. boosted its stake in shares of NOV by 17.2% in the second quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock worth $111,000 after acquiring an additional 839 shares during the period. GAMMA Investing LLC lifted its holdings in shares of NOV by 18.2% in the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock worth $104,000 after buying an additional 848 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of NOV by 3.1% in the first quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock worth $576,000 after buying an additional 889 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in shares of NOV by 7.5% in the first quarter. Park Avenue Securities LLC now owns 17,020 shares of the oil and gas exploration company’s stock worth $332,000 after buying an additional 1,194 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Trading Up 1.5 %

Shares of NOV opened at $16.21 on Wednesday. NOV Inc. has a 52-week low of $15.47 and a 52-week high of $21.53. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average is $17.45 and its two-hundred day moving average is $18.29. The stock has a market cap of $6.41 billion, a PE ratio of 6.51, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67.

NOV (NYSE:NOV) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.22. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company posted $0.39 EPS. The company’s revenue was up 5.9% compared to the same quarter last year. Research analysts forecast that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.85%. NOV’s payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NOV. Morgan Stanley lowered their target price on shares of NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Piper Sandler decreased their price target on shares of NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Bank of America decreased their price target on shares of NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Finally, Benchmark reaffirmed a “hold” rating on shares of NOV in a research note on Friday, July 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $24.00.

About NOV

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.