Raymond James & Associates Boosts Position in NOV Inc. (NYSE:NOV)

Raymond James & Associates boosted its position in shares of NOV Inc. (NYSE:NOV – Get Rating) by 16.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 231,860 shares of the oil and gas exploration company’s stock after purchasing an additional 33,013 shares during the quarter. Raymond James & Associates owned approximately 0.06% of NOV worth $4,844,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. PAX Financial Group LLC boosted its stake in shares of NOV by 3.6% during the 3rd quarter. PAX Financial Group LLC now owns 13,541 shares of the oil and gas exploration company’s stock worth $219,000 after acquiring an additional 467 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in NOV by 0.9% during the fourth quarter. State of Alaska Department of Revenue now owns 54,982 shares of the oil and gas exploration company’s stock valued at $1,148,000 after buying an additional 490 shares in the last quarter. KBC Group NV grew its position in shares of NOV by 52.8% in the third quarter. KBC Group NV now owns 1,638 shares of the oil and gas exploration company’s stock valued at $27,000 after purchasing an additional 566 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of NOV by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock valued at $306,000 after purchasing an additional 598 shares during the last quarter. Finally, Covestor Ltd grew its position in NOV by 94.4% during the first quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock worth $25,000 after buying an additional 625 shares in the last quarter. 94.18% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NOV

In other NOV news, CAO Christy Lynn Novak sold 9,607 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $21.86, for a total value of $210,009.02. Following the sale, the chief accounting officer now directly owns 84,600 shares in the company, valued at approximately $1,849,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Christy Lynn Novak sold 9,607 shares of the stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.86, for a total transaction of $210,009.02. Following the transaction, the chief accounting officer now owns 84,600 shares of the company’s stock, valued at approximately $1,849,356. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Eric L. Mattson sold 20,681 shares of the firm’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $21.90, for a total transaction of $452,913.90. Following the completion of the sale, the director now directly owns 46,600 shares in the company, valued at approximately $1,020,540. The disclosure for this sale can be found here. 1.77% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NOV has been the topic of a number of recent research reports. Citigroup decreased their price objective on NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Wednesday, April 5th. Barclays cut their price target on NOV from $25.00 to $20.00 in a research note on Monday, May 1st. Stifel Nicolaus lowered their price objective on shares of NOV from $29.00 to $28.00 in a research report on Friday, April 28th. Cowen upped their price objective on shares of NOV from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Wednesday, February 8th. Finally, Susquehanna lowered their target price on NOV from $29.00 to $26.00 in a report on Monday, April 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, NOV currently has a consensus rating of “Hold” and an average target price of $24.13.

NOV Price Performance

Shares of NYSE:NOV opened at $15.52 on Wednesday. The firm has a market cap of $6.11 billion, a PE ratio of 18.48 and a beta of 1.89. The firm’s fifty day moving average is $17.21 and its 200-day moving average is $20.39. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.47 and a current ratio of 2.35. NOV Inc. has a 52 week low of $13.98 and a 52 week high of $24.83.

NOV (NYSE:NOV – Get Rating) last announced its quarterly earnings data on Wednesday, April 26th. The oil and gas exploration company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.10. The firm had revenue of $1.96 billion for the quarter, compared to analyst estimates of $1.96 billion. NOV had a net margin of 4.33% and a return on equity of 6.51%. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.13) earnings per share. Sell-side analysts predict that NOV Inc. will post 1.32 earnings per share for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 16th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Thursday, June 15th. NOV’s dividend payout ratio is currently 23.81%.

NOV Profile

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NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment focuses on the engineering, manufacturing, and support of advanced drilling equipment packages and related capital equipment for oil and gas wells.