NewEdge Advisors LLC Acquires 21,500 Shares of NOV Inc. (NYSE:NOV)

NewEdge Advisors LLC boosted its holdings in NOV Inc. (NYSE:NOV) by 6,574.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,827 shares of the oil and gas exploration company’s stock after acquiring an additional 21,500 shares during the quarter. NewEdge Advisors LLC’s holdings in NOV were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NOV. Huntington National Bank increased its position in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after purchasing an additional 1,034 shares during the last quarter. Covestor Ltd increased its holdings in shares of NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after buying an additional 1,655 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after buying an additional 1,612 shares during the last quarter. Signaturefd LLC raised its position in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. Finally, CoreFirst Bank & Trust bought a new stake in shares of NOV during the 4th quarter worth $41,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Down 3.1 %

Shares of NYSE:NOV opened at $11.63 on Thursday. NOV Inc. has a 1 year low of $10.84 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The stock’s 50-day moving average is $13.62 and its 200 day moving average is $14.75. The company has a market cap of $4.40 billion, a PE ratio of 7.22, a P/E/G ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV) last issued its quarterly earnings data on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.58%. NOV’s payout ratio is 18.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOV shares. Royal Bank of Canada lowered their price target on NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday. Susquehanna reduced their price target on shares of NOV from $21.00 to $19.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lowered their price objective on shares of NOV from $16.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, April 10th. Finally, Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.38.

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.