Lodge Hill Capital LLC Has $17.90 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Lodge Hill Capital LLC raised its position in shares of NOV Inc. (NYSE:NOV) by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 941,400 shares of the oil and gas exploration company’s stock after acquiring an additional 25,000 shares during the quarter. NOV makes up approximately 4.8% of Lodge Hill Capital LLC’s holdings, making the stock its 9th largest position. Lodge Hill Capital LLC owned 0.24% of NOV worth $17,896,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in shares of NOV during the first quarter valued at approximately $26,000. Rothschild Investment LLC purchased a new position in NOV during the second quarter valued at $28,000. Riverview Trust Co bought a new stake in shares of NOV during the 1st quarter valued at $39,000. SYSTM Wealth Solutions LLC purchased a new stake in shares of NOV in the 1st quarter worth about $78,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of NOV in the 2nd quarter worth about $78,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NYSE NOV opened at $16.90 on Friday. The firm’s 50-day moving average price is $17.86 and its 200-day moving average price is $18.37. NOV Inc. has a 52-week low of $15.47 and a 52-week high of $21.71. The company has a market cap of $6.68 billion, a PE ratio of 6.79, a PEG ratio of 0.47 and a beta of 1.67. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. The company had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.39 earnings per share. As a group, analysts anticipate that NOV Inc. will post 1.63 EPS for the current year.

NOV Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.78%. The ex-dividend date is Friday, September 13th. NOV’s payout ratio is currently 12.05%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Benchmark reissued a “hold” rating on shares of NOV in a research note on Friday, July 26th. TD Cowen upped their price target on NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Bank of America lowered their price objective on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of NOV in a report on Monday, July 29th. Finally, Evercore ISI upgraded NOV to a “strong-buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.42.

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.