Goldman Sachs Group Inc. Acquires 429,104 Shares of NOV Inc. (NYSE:NOV)

Goldman Sachs Group Inc. increased its stake in shares of NOV Inc. (NYSE:NOV) by 95.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 879,960 shares of the oil and gas exploration company’s stock after acquiring an additional 429,104 shares during the quarter. Goldman Sachs Group Inc. owned about 0.22% of NOV worth $17,846,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of NOV. Janney Montgomery Scott LLC bought a new stake in shares of NOV in the third quarter valued at about $214,000. Envestnet Portfolio Solutions Inc. bought a new stake in shares of NOV in the 3rd quarter worth approximately $381,000. Envestnet Asset Management Inc. grew its holdings in shares of NOV by 68.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 646,973 shares of the oil and gas exploration company’s stock worth $13,522,000 after purchasing an additional 263,543 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of NOV by 9.8% during the third quarter. Hsbc Holdings PLC now owns 66,596 shares of the oil and gas exploration company’s stock valued at $1,400,000 after purchasing an additional 5,968 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of NOV by 144.7% in the third quarter. Stifel Financial Corp now owns 91,168 shares of the oil and gas exploration company’s stock valued at $1,905,000 after purchasing an additional 53,914 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

NOV Trading Up 0.1 %

NOV stock opened at $18.87 on Friday. The business has a fifty day moving average price of $18.44 and a 200 day moving average price of $18.82. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.50 and a quick ratio of 1.50. NOV Inc. has a fifty-two week low of $15.47 and a fifty-two week high of $21.91. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 7.58, a P/E/G ratio of 0.59 and a beta of 1.70.

NOV (NYSE:NOV) last announced its earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share for the quarter, beating 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company posted $0.32 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts expect that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.075 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.59%. This is a positive change from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio (DPR) is currently 12.05%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NOV shares. Susquehanna reissued a “positive” rating and issued a $26.00 price target on shares of NOV in a report on Monday, April 8th. TD Cowen lowered their target price on shares of NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of “Hold” and an average target price of $24.07.

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.