NOV Inc. (NYSE:NOV) Holdings Lifted by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its holdings in NOV Inc. (NYSE:NOV) by 78.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,024 shares of the oil and gas exploration company’s stock after acquiring an additional 36,130 shares during the period. Avantax Advisory Services Inc.’s holdings in NOV were worth $1,248,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. First Pacific Advisors LP boosted its stake in shares of NOV by 29.1% during the 1st quarter. First Pacific Advisors LP now owns 3,492,196 shares of the oil and gas exploration company’s stock valued at $53,151,000 after buying an additional 787,068 shares during the period. Machina Capital S.A.S. acquired a new stake in NOV during the first quarter valued at $205,000. Readystate Asset Management LP increased its position in NOV by 4.5% in the 1st quarter. Readystate Asset Management LP now owns 37,579 shares of the oil and gas exploration company’s stock worth $572,000 after purchasing an additional 1,630 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in shares of NOV by 6.5% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 361,959 shares of the oil and gas exploration company’s stock worth $5,509,000 after purchasing an additional 22,249 shares in the last quarter. Finally, Pzena Investment Management LLC lifted its holdings in shares of NOV by 0.3% during the 1st quarter. Pzena Investment Management LLC now owns 41,564,404 shares of the oil and gas exploration company’s stock valued at $632,610,000 after buying an additional 106,011 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Down 3.5%

NOV opened at $12.14 on Friday. The business has a 50 day moving average of $13.04 and a 200-day moving average of $13.60. The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 3.36 and a beta of 1.32. The company has a current ratio of 2.58, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $19.35.

NOV (NYSE:NOV) last issued its quarterly earnings results on Monday, July 28th. The oil and gas exploration company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.01). NOV had a net margin of 5.36% and a return on equity of 7.25%. The company had revenue of $2.19 billion during the quarter, compared to the consensus estimate of $2.16 billion. During the same period last year, the company earned $0.57 earnings per share. NOV’s revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 363.0%. NOV’s dividend payout ratio is 24.59%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays dropped their price objective on NOV from $13.00 to $11.00 and set an “underweight” rating on the stock in a report on Wednesday, April 30th. Morgan Stanley cut their price target on shares of NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Royal Bank Of Canada decreased their price objective on shares of NOV from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company cut their target price on NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a report on Thursday, June 5th. Finally, Stifel Nicolaus decreased their price target on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $16.69.

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.