Mather Group LLC. Makes New $99,000 Investment in NOV Inc. (NYSE:NOV)

Mather Group LLC. bought a new position in NOV Inc. (NYSE:NOV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,867 shares of the oil and gas exploration company’s stock, valued at approximately $99,000.

A number of other institutional investors also recently modified their holdings of NOV. Bruce G. Allen Investments LLC bought a new stake in shares of NOV during the fourth quarter worth approximately $49,000. GAMMA Investing LLC bought a new stake in shares of NOV during the fourth quarter worth approximately $61,000. International Assets Investment Management LLC raised its stake in shares of NOV by 1,306.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after buying an additional 3,240 shares during the last quarter. Principal Securities Inc. bought a new stake in shares of NOV during the fourth quarter worth approximately $97,000. Finally, Headinvest LLC bought a new stake in shares of NOV during the third quarter worth approximately $108,000. 93.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen dropped their price target on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Monday, April 29th. Susquehanna restated a “positive” rating and set a $26.00 price objective on shares of NOV in a report on Monday, April 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, NOV currently has a consensus rating of “Hold” and an average target price of $24.07.

NOV Stock Down 0.8 %

NOV stock opened at $18.01 on Friday. The stock has a market capitalization of $7.12 billion, a PE ratio of 7.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. NOV Inc. has a twelve month low of $14.85 and a twelve month high of $21.91. The company has a quick ratio of 1.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.28. The company has a 50 day moving average of $18.44 and a 200-day moving average of $18.82.

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

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.075 per share. This is a boost from NOV’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.30 annualized dividend and a yield of 1.67%. NOV’s dividend payout ratio is presently 12.05%.

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.