Hillsdale Investment Management Inc. Invests $685,000 in NOV Inc. (NYSE:NOV)

Hillsdale Investment Management Inc. bought a new position in NOV Inc. (NYSE:NOV) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 46,900 shares of the oil and gas exploration company’s stock, valued at approximately $685,000.

Several other large investors have also recently modified their holdings of NOV. UMB Bank n.a. increased its stake in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP purchased a new position in NOV during the third quarter valued at approximately $36,000. Signaturefd LLC grew its stake 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 acquiring an additional 756 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in NOV during the fourth quarter valued at approximately $42,000. Finally, R Squared Ltd purchased a new position in NOV during the fourth quarter valued at approximately $44,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 3.2 %

Shares of NOV opened at $14.62 on Monday. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 1.02 and a beta of 1.66. 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 $13.78 and a fifty-two week high of $21.20. The firm has a 50 day moving average price of $14.99 and a 200-day moving average price of $15.42.

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

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. NOV’s payout ratio is 18.63%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOV. Barclays boosted their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. ATB Capital reaffirmed a “sector perform” rating and set a $19.00 price objective on shares of NOV in a research note on Tuesday, December 10th. Raymond James boosted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada boosted their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $19.60.

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.