NOV Inc. (NYSE:NOV) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of NOV Inc. (NYSE:NOV) by 18.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,060 shares of the oil and gas exploration company’s stock after buying an additional 71,047 shares during the period. Massachusetts Financial Services Co. MA owned 0.11% of NOV worth $8,632,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in NOV. Goldman Sachs Group Inc. increased its stake in shares of NOV by 95.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock worth $17,846,000 after acquiring an additional 429,104 shares during the last quarter. Wintrust Investments LLC raised its holdings in NOV by 631.6% in the first quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock valued at $1,600,000 after acquiring an additional 70,743 shares in the last quarter. Stanley Laman Group Ltd. purchased a new stake in shares of NOV during the 2nd quarter worth $4,031,000. Edmond DE Rothschild Holding S.A. lifted its holdings in NOV by 16.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,200,000 shares of the oil and gas exploration company’s stock worth $44,616,000 after buying an additional 305,000 shares during the last quarter. Finally, Schroder Investment Management Group boosted its position in shares of NOV by 71.3% during the 4th quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock worth $22,154,000 after acquiring an additional 454,665 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Performance

NYSE:NOV opened at $16.90 on Friday. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $17.86 and its 200-day simple moving average is $18.38. NOV Inc. has a 12-month low of $15.47 and a 12-month high of $21.71. The firm has a market cap of $6.68 billion, a P/E ratio of 6.79, a PEG ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. The company had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. NOV’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities 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 given 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 yield of 1.78%. NOV’s payout ratio is currently 12.05%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on NOV shares. Benchmark restated a “hold” rating on shares of NOV in a research note on Friday, July 26th. TD Cowen increased their target price on shares of NOV from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Morgan Stanley reduced their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Barclays raised their price objective on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a report on Tuesday, July 30th. Finally, Bank of America reduced their target price on NOV from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $24.42.

About NOV

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.