Hsbc Holdings PLC boosted its position in NOV Inc. (NYSE:NOV – Free Report) by 176.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 445,988 shares of the oil and gas exploration company’s stock after buying an additional 284,948 shares during the quarter. Hsbc Holdings PLC’s holdings in NOV were worth $8,483,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. lifted its position in shares of NOV by 203.9% in the fourth quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock worth $1,343,000 after purchasing an additional 57,634 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of NOV in the 1st quarter valued at about $2,331,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of NOV by 99.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 65,626 shares of the oil and gas exploration company’s stock worth $1,109,000 after purchasing an additional 32,675 shares during the last quarter. Fiduciary Alliance LLC raised its holdings in shares of NOV by 183.9% in the 4th quarter. Fiduciary Alliance LLC now owns 218,486 shares of the oil and gas exploration company’s stock valued at $3,415,000 after purchasing an additional 141,525 shares during the period. Finally, Vest Financial LLC lifted its stake in NOV by 13.5% in the 4th quarter. Vest Financial LLC now owns 430,231 shares of the oil and gas exploration company’s stock valued at $6,725,000 after purchasing an additional 51,175 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.
Analyst Upgrades and Downgrades
NOV has been the subject of several research analyst reports. Royal Bank Of Canada lifted their target price on NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 29th. TD Cowen raised shares of NOV from a “hold” rating to a “strong-buy” rating in a report on Wednesday, April 29th. Citigroup upped their price target on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. Morgan Stanley set a $21.00 price objective on shares of NOV in a research report on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $20.50.
NOV Price Performance
Shares of NOV stock opened at $20.35 on Thursday. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $19.30. The company has a market cap of $7.30 billion, a P/E ratio of 84.81 and a beta of 0.91.
NOV (NYSE:NOV – Get Free Report) last issued its earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the business earned $0.19 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that NOV Inc. will post 0.9 EPS for the current fiscal year.
NOV Announces Dividend
The business also recently declared a special dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a $0.09 dividend. This represents a dividend yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s payout ratio is 150.00%.
NOV 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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