Oppenheimer Asset Management Inc. purchased a new position in NOV Inc. (NYSE:NOV – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 154,684 shares of the oil and gas exploration company’s stock, valued at approximately $2,869,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of NOV by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,404,319 shares of the oil and gas exploration company’s stock worth $364,987,000 after acquiring an additional 431,684 shares during the period. First Trust Advisors LP grew its holdings in NOV by 2.3% in the first quarter. First Trust Advisors LP now owns 7,192,735 shares of the oil and gas exploration company’s stock valued at $135,295,000 after purchasing an additional 158,788 shares during the period. Bank of America Corp DE grew its holdings in NOV by 14.8% in the third quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock valued at $70,839,000 after purchasing an additional 689,427 shares during the period. Price T Rowe Associates Inc. MD increased its position in NOV by 1,743.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after purchasing an additional 4,785,015 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in NOV by 29.1% during the fourth quarter. AQR Capital Management LLC now owns 4,668,127 shares of the oil and gas exploration company’s stock worth $72,963,000 after purchasing an additional 1,053,354 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.
NOV Stock Up 2.6%
NYSE NOV opened at $21.17 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27. NOV Inc. has a fifty-two week low of $12.09 and a fifty-two week high of $21.55. The business has a 50 day moving average price of $19.56 and a two-hundred day moving average price of $19.58. The stock has a market cap of $7.55 billion, a PE ratio of 81.43 and a beta of 0.92.
NOV Announces Dividend
The company also recently declared a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a yield of 170.0%. NOV’s payout ratio is 138.46%.
Insider Buying and Selling
In other NOV news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction on Friday, July 31st. The shares were sold at an average price of $19.21, for a total value of $184,300.74. Following the transaction, the director owned 126,763 shares in the company, valued at $2,435,117.23. The trade was a 7.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.15% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
NOV has been the topic of a number of research analyst reports. Barclays decreased their price target on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a report on Friday, July 31st. Morgan Stanley set a $21.00 target price on NOV in a research report on Wednesday, July 15th. Zacks Research upgraded NOV from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $19.00 price target on NOV in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NOV has a consensus rating of “Hold” and an average price target of $21.31.
Check Out Our Latest Report on NOV
NOV Company Profile
National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.
NOV’s business is organized to serve upstream energy companies around the world.
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