Voya Investment Management LLC Grows Stock Position in NOV Inc. $NOV

Voya Investment Management LLC increased its stake in shares of NOV Inc. (NYSE:NOV) by 239.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 141,506 shares of the oil and gas exploration company’s stock after purchasing an additional 99,765 shares during the quarter. Voya Investment Management LLC’s holdings in NOV were worth $1,875,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. raised its position in NOV by 585.8% during the 2nd quarter. American Century Companies Inc. now owns 5,291,529 shares of the oil and gas exploration company’s stock worth $65,774,000 after buying an additional 4,519,957 shares during the last quarter. First Pacific Advisors LP increased its stake in shares of NOV by 101.0% during the second quarter. First Pacific Advisors LP now owns 7,018,950 shares of the oil and gas exploration company’s stock worth $87,246,000 after acquiring an additional 3,526,754 shares during the period. AQR Capital Management LLC raised its holdings in NOV by 88.9% during the first quarter. AQR Capital Management LLC now owns 7,146,949 shares of the oil and gas exploration company’s stock worth $107,276,000 after purchasing an additional 3,362,853 shares in the last quarter. Ameriprise Financial Inc. lifted its position in NOV by 401.9% in the second quarter. Ameriprise Financial Inc. now owns 3,165,518 shares of the oil and gas exploration company’s stock valued at $39,347,000 after purchasing an additional 2,534,815 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in NOV in the first quarter valued at about $19,915,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Christian S. Kendall purchased 70,000 shares of the company’s stock in a transaction on Friday, November 21st. The stock was bought at an average price of $14.46 per share, with a total value of $1,012,200.00. Following the completion of the transaction, the director owned 85,949 shares of the company’s stock, valued at approximately $1,242,822.54. This represents a 438.90% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NOV shares. Royal Bank Of Canada boosted their target price on NOV from $17.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Morgan Stanley set a $16.00 target price on NOV in a report on Monday, December 15th. Raymond James Financial restated an “outperform” rating and set a $17.00 target price on shares of NOV in a research report on Tuesday, October 28th. Citigroup raised their price objective on shares of NOV from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Monday, December 22nd. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.83.

NOV Price Performance

NOV stock opened at $15.63 on Monday. The firm has a market capitalization of $5.70 billion, a PE ratio of 15.63, a P/E/G ratio of 5.18 and a beta of 0.97. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.96. The firm’s 50-day simple moving average is $15.26 and its 200 day simple moving average is $13.81. The company has a quick ratio of 1.71, a current ratio of 2.55 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. During the same quarter in the previous year, the company earned $0.33 EPS. The business’s revenue for the quarter was down .7% on a year-over-year basis. On average, equities research analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a yield of 1.9%. NOV’s dividend payout ratio is presently 30.00%.

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.