NOV Inc. (NYSE:NOV) Shares Purchased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of NOV Inc. (NYSE:NOV) by 41.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,959 shares of the oil and gas exploration company’s stock after purchasing an additional 38,044 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in NOV were worth $2,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NOV. Boston Partners purchased a new stake in shares of NOV in the first quarter valued at $119,686,000. Balyasny Asset Management L.P. grew its position in shares of NOV by 769.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock valued at $125,048,000 after purchasing an additional 5,456,581 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NOV by 67.2% in the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after purchasing an additional 3,989,095 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of NOV by 12.7% in the first quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock valued at $684,618,000 after purchasing an additional 3,946,504 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in NOV by 779.9% during the first quarter. SG Americas Securities LLC now owns 858,823 shares of the oil and gas exploration company’s stock valued at $16,764,000 after acquiring an additional 761,219 shares during the period. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NOV shares. Evercore ISI upgraded NOV to a “strong-buy” rating in a research note on Friday, July 26th. Benchmark reiterated a “hold” rating on shares of NOV in a research report on Friday, July 26th. Barclays upped their price objective on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research report on Tuesday, July 30th. TD Cowen upped their target price on shares of NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America reduced their price objective on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NOV currently has a consensus rating of “Moderate Buy” and an average price target of $24.42.

NOV Stock Performance

NYSE NOV opened at $16.38 on Wednesday. The company’s 50 day moving average is $17.97 and its 200-day moving average is $18.40. NOV Inc. has a 12-month low of $15.47 and a 12-month high of $21.71. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.48 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 0.47 and a beta of 1.67.

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

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.83%. NOV’s dividend payout ratio (DPR) is 12.05%.

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.