LPL Financial LLC Increases Stock Position in NOV Inc. (NYSE:NOV)

LPL Financial LLC boosted its holdings in shares of NOV Inc. (NYSE:NOV) by 23.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,340 shares of the oil and gas exploration company’s stock after buying an additional 11,364 shares during the quarter. LPL Financial LLC’s holdings in NOV were worth $866,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NOV. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after acquiring an additional 1,612 shares during the period. Signaturefd LLC boosted its position in NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in NOV in the fourth quarter worth about $42,000. R Squared Ltd purchased a new stake in shares of NOV during the fourth quarter valued at about $44,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of NOV in the 4th quarter valued at about $141,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Down 1.8 %

NYSE:NOV opened at $12.31 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The company’s fifty day moving average price is $14.10 and its 200-day moving average price is $14.94. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $21.20. The firm has a market capitalization of $4.66 billion, a P/E ratio of 7.65, a PEG ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, equities research analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.44%. NOV’s payout ratio is 18.63%.

Analysts Set New Price Targets

Several research analysts recently commented on NOV shares. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a research report on Monday, March 24th. Raymond James raised their price objective on NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus decreased their price target on NOV from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NOV currently has an average rating of “Hold” and an average price target of $19.00.

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.