Leuthold Group LLC Makes New $420,000 Investment in NOV Inc. $NOV

Leuthold Group LLC acquired a new position in shares of NOV Inc. (NYSE:NOV) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,851 shares of the oil and gas exploration company’s stock, valued at approximately $420,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NOV. Dimensional Fund Advisors LP lifted its position in shares of NOV by 0.9% during the third quarter. Dimensional Fund Advisors LP now owns 18,578,053 shares of the oil and gas exploration company’s stock worth $246,159,000 after purchasing an additional 161,414 shares during the last quarter. American Century Companies Inc. lifted its position in shares of NOV by 43.6% during the third quarter. American Century Companies Inc. now owns 7,596,504 shares of the oil and gas exploration company’s stock worth $100,654,000 after purchasing an additional 2,304,975 shares during the last quarter. First Trust Advisors LP lifted its position in shares of NOV by 15.1% during the third quarter. First Trust Advisors LP now owns 7,008,337 shares of the oil and gas exploration company’s stock worth $92,860,000 after purchasing an additional 917,242 shares during the last quarter. Greenhaven Associates Inc. lifted its position in shares of NOV by 15.4% during the third quarter. Greenhaven Associates Inc. now owns 5,747,682 shares of the oil and gas exploration company’s stock worth $76,157,000 after purchasing an additional 765,166 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of NOV by 14.8% during the third quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock worth $70,839,000 after purchasing an additional 689,427 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Craig L. Weinstock sold 70,000 shares of NOV stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $20.08, for a total value of $1,405,600.00. Following the completion of the sale, the vice president directly owned 256,319 shares in the company, valued at $5,146,885.52. The trade was a 21.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of NOV stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $20.17, for a total value of $3,047,404.62. Following the completion of the sale, the insider owned 269,694 shares of the company’s stock, valued at $5,439,727.98. The trade was a 35.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.15% of the company’s stock.

NOV Stock Performance

NOV stock opened at $20.34 on Monday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The business has a 50-day moving average price of $19.41 and a 200 day moving average price of $17.88. The company has a market capitalization of $7.30 billion, a P/E ratio of 84.77 and a beta of 0.92. NOV Inc. has a 1-year low of $11.65 and a 1-year high of $20.93.

NOV (NYSE:NOV) last released its quarterly earnings data on Monday, April 27th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The firm had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. As a group, equities research analysts forecast that NOV Inc. will post 0.93 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 13th were issued a $0.09 dividend. The ex-dividend date was Friday, March 13th. This is an increase from NOV’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 1.8%. NOV’s dividend payout ratio is presently 150.00%.

Analyst Ratings Changes

NOV has been the subject of several research analyst reports. Evercore upgraded NOV to a “hold” rating in a research report on Wednesday, April 29th. TD Cowen upgraded NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Piper Sandler lifted their target price on NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Monday, February 9th. Stifel Nicolaus lifted their target price on NOV from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $19.36.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.