Jupiter Topco LLC Takes $3.04 Million Position in NOV Inc. $NOV

Jupiter Topco LLC acquired a new stake in NOV Inc. (NYSE:NOV) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 163,778 shares of the oil and gas exploration company’s stock, valued at approximately $3,039,000.

A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. bought a new position in NOV in the second quarter valued at about $697,976,000. Pzena Investment Management LLC acquired a new position in NOV in the second quarter valued at about $674,776,000. Dimensional Fund Advisors LP increased its stake in NOV by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 19,404,319 shares of the oil and gas exploration company’s stock worth $364,987,000 after purchasing an additional 431,684 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of NOV by 2.3% during the first quarter. First Trust Advisors LP now owns 7,192,735 shares of the oil and gas exploration company’s stock worth $135,295,000 after acquiring an additional 158,788 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of NOV by 14.8% in the 3rd quarter. Bank of America Corp DE now owns 5,346,302 shares of the oil and gas exploration company’s stock valued at $70,839,000 after purchasing an additional 689,427 shares during the period. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David D. Harrison sold 9,594 shares of the 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 completion of the sale, the director owned 126,763 shares in the company, valued at $2,435,117.23. This represents a 7.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is currently owned by insiders.

NOV Stock Performance

Shares of NOV stock opened at $21.72 on Thursday. The business has a 50-day moving average price of $19.80 and a two-hundred day moving average price of $19.77. NOV Inc. has a 1-year low of $12.28 and a 1-year high of $21.83. The company has a market cap of $7.74 billion, a P/E ratio of 83.53 and a beta of 0.94. The company has a current ratio of 2.42, a quick ratio of 1.61 and a debt-to-equity ratio of 0.27.

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

NOV Dividend Announcement

The business also recently disclosed 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 is Friday, September 11th. This represents a $0.36 annualized dividend and a yield of 1.7%. NOV’s dividend payout ratio (DPR) is 138.46%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NOV. Weiss Ratings reiterated a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research report on Wednesday, June 3rd. Capital One Financial raised 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. Susquehanna boosted their price objective on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a report on Thursday, July 30th. Finally, Zacks Research cut NOV from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 26th. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, NOV has a consensus rating of “Hold” and an average target price of $21.31.

NOV 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.