GAMMA Investing LLC Increases Stock Position in NOV Inc. (NYSE:NOV)

GAMMA Investing LLC lifted its position in shares of NOV Inc. (NYSE:NOV) by 4,053.5% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 65,750 shares of the oil and gas exploration company’s stock after buying an additional 64,167 shares during the period. GAMMA Investing LLC’s holdings in NOV were worth $1,001,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Greenhaven Associates Inc. grew its holdings in NOV by 25.0% during the 1st quarter. Greenhaven Associates Inc. now owns 4,114,157 shares of the oil and gas exploration company’s stock valued at $62,617,000 after purchasing an additional 823,115 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of NOV by 126.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 34,726 shares of the oil and gas exploration company’s stock worth $507,000 after purchasing an additional 19,399 shares during the last quarter. Hara Capital LLC acquired a new position in shares of NOV in the fourth quarter worth about $1,790,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NOV during the fourth quarter worth approximately $4,960,000. Finally, Jefferies Financial Group Inc. bought a new position in NOV during the fourth quarter valued at approximately $762,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

NOV has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a research report on Thursday, June 5th. Morgan Stanley cut their target price on shares of NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Piper Sandler cut their price target on shares of NOV from $18.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Barclays decreased their price target on shares of NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank of Canada reduced their target price on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, NOV has an average rating of “Hold” and an average target price of $17.44.

NOV Stock Performance

NYSE:NOV opened at $13.71 on Tuesday. The company has a market capitalization of $5.15 billion, a PE ratio of 8.51, a P/E/G ratio of 1.02 and a beta of 1.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a 50 day simple moving average of $12.42 and a two-hundred day simple moving average of $13.97.

NOV (NYSE:NOV) last posted its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a net margin of 7.16% and a return on equity of 9.88%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period in the previous year, the business posted $0.30 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently announced a dividend, which was paid on Friday, June 13th. Stockholders of record on Tuesday, June 3rd were paid a dividend of $0.21 per share. This represents a dividend yield of 3.63%. The ex-dividend date was Monday, June 2nd. NOV’s payout ratio is 20.00%.

NOV Profile

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.