Parvin Asset Management LLC Buys Shares of 59,750 NOV Inc. $NOV

Parvin Asset Management LLC bought a new position in shares of NOV Inc. (NYSE:NOV) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 59,750 shares of the oil and gas exploration company’s stock, valued at approximately $1,108,000.

A number of other large investors also recently modified their holdings of the business. Root Financial Partners LLC boosted its stake in NOV by 39.9% in the first quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 552 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of NOV during the 2nd quarter worth approximately $37,000. Altshuler Shaham Ltd lifted its holdings in shares of NOV by 36.8% in the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock worth $38,000 after purchasing an additional 546 shares during the last quarter. Summit Securities Group LLC acquired a new position in NOV during the 1st quarter valued at approximately $40,000. Finally, CIBC Private Wealth Group LLC boosted its position in NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 1,978 shares during the period. 93.27% of the stock is currently owned by institutional investors.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $19.21, for a total value of $184,300.74. Following the sale, the director directly owned 126,763 shares in the company, valued at approximately $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. The Goldman Sachs Group set a $19.00 target price on NOV in a research report on Wednesday, June 3rd. 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. Susquehanna increased their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Thursday, July 30th. Zacks Research upgraded shares of NOV from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Finally, Citigroup boosted their target price on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average target price of $21.31.

NOV Price Performance

NYSE NOV opened at $20.26 on Thursday. NOV Inc. has a 12 month low of $12.28 and a 12 month high of $21.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.42 and a quick ratio of 1.61. The firm has a market capitalization of $7.22 billion, a PE ratio of 77.92 and a beta of 0.92. The company’s 50 day simple moving average is $19.54 and its 200 day simple moving average is $19.69.

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

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors 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 1.8%. NOV’s dividend payout ratio (DPR) 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.