NOV Inc. (NYSE:NOV) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC raised its holdings in shares of NOV Inc. (NYSE:NOV) by 7.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,020 shares of the oil and gas exploration company’s stock after buying an additional 1,194 shares during the period. Park Avenue Securities LLC’s holdings in NOV were worth $332,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new stake in shares of NOV during the 1st quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of NOV in the 4th quarter valued at $49,000. GAMMA Investing LLC acquired a new position in shares of NOV in the 4th quarter valued at $61,000. International Assets Investment Management LLC increased its stake in NOV by 1,306.5% in the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in NOV during the 4th quarter worth about $97,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

NYSE NOV opened at $19.01 on Monday. The company’s fifty day moving average is $18.45 and its two-hundred day moving average is $18.82. NOV Inc. has a 52-week low of $15.72 and a 52-week 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 firm has a market capitalization of $7.52 billion, a price-to-earnings ratio of 7.63, a P/E/G ratio of 0.59 and a beta of 1.70.

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

NOV Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $0.075 dividend. The ex-dividend date was Friday, June 14th. This is a boost from NOV’s previous quarterly dividend of $0.05. This represents a $0.30 dividend on an annualized basis and a yield of 1.58%. NOV’s dividend payout ratio (DPR) is presently 12.05%.

Analysts Set New Price Targets

NOV has been the topic of several analyst reports. TD Cowen dropped their target price on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Susquehanna reiterated a “positive” rating and set a $26.00 price objective on shares of NOV in a research report 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 currently has an average rating of “Hold” and a consensus target price of $24.07.

NOV Company 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.