Public Employees Retirement System of Ohio Makes New $2.05 Million Investment in NOV Inc. $NOV

Public Employees Retirement System of Ohio purchased a new position in NOV Inc. (NYSE:NOV) during the second quarter, HoldingsChannel.com reports. The fund purchased 110,624 shares of the oil and gas exploration company’s stock, valued at approximately $2,052,000.

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

NOV Trading Down 0.1%

Shares of NOV stock opened at $21.37 on Monday. 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 $12.28 and a 1 year high of $21.86. The stock has a fifty day moving average of $19.90 and a two-hundred day moving average of $19.80. The firm has a market capitalization of $7.62 billion, a PE ratio of 82.19 and a beta of 0.94.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $0.29 earnings per share. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, research analysts expect that NOV Inc. will post 0.99 EPS for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.36 annualized dividend and a yield of 1.7%. NOV’s dividend payout ratio (DPR) is presently 138.46%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Susquehanna raised their target price on NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Thursday, July 30th. Citigroup boosted their price target on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. TD Cowen upped their price target on shares of NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, NOV presently has an average rating of “Hold” and a consensus price target of $21.31.

Insider Activity at NOV

In other news, Director David Harrison sold 9,594 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $19.21, for a total value of $184,300.74. Following the completion of the transaction, the director directly 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 SEC, which is accessible through this link. Company insiders own 1.15% of the company’s stock.

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.