234,174 Shares in NOV Inc. $NOV Bought by Energy Income Partners LLC

Energy Income Partners LLC acquired a new position in NOV Inc. (NYSE:NOV) in the second quarter, HoldingsChannel reports. The institutional investor acquired 234,174 shares of the oil and gas exploration company’s stock, valued at approximately $4,344,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NOV. Royal Bank of Canada grew its position in shares of NOV by 15.6% during the 1st quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock valued at $756,000 after buying an additional 6,711 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NOV by 35.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock worth $2,465,000 after acquiring an additional 42,462 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in NOV by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock worth $16,168,000 after acquiring an additional 157,385 shares during the last quarter. Focus Partners Wealth acquired a new position in NOV in the first quarter valued at approximately $214,000. Finally, Cetera Investment Advisers bought a new position in shares of NOV during the second quarter valued at approximately $190,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director David D. Harrison sold 9,594 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the transaction, the director owned 126,763 shares in the company, valued at $2,435,117.23. This trade represents a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on NOV. Susquehanna raised their price target on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. TD Cowen upped their price objective on NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. The Goldman Sachs Group set a $19.00 target price on NOV in a research report on Wednesday, June 3rd. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a report on Thursday, June 4th. Finally, Zacks Research raised shares of NOV from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, NOV has an average rating of “Hold” and a consensus price target of $21.31.

NOV Trading Down 2.7%

NYSE:NOV opened at $21.03 on Wednesday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 80.87 and a beta of 0.92. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. NOV Inc. has a 1 year low of $12.09 and a 1 year high of $21.67. The business has a fifty day moving average of $19.57 and a 200-day moving average of $19.62.

NOV (NYSE:NOV) last issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.29 earnings per share. Equities analysts predict that NOV Inc. will post 0.94 earnings per share for the current year.

NOV Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were paid a $0.09 dividend. This represents a dividend yield of 173.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio is currently 138.46%.

About NOV

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.