LSV Asset Management Acquires 724,822 Shares of NOV Inc. $NOV

LSV Asset Management raised its holdings in shares of NOV Inc. (NYSE:NOV) by 48.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,233,000 shares of the oil and gas exploration company’s stock after purchasing an additional 724,822 shares during the period. LSV Asset Management’s holdings in NOV were worth $27,756,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Banque Cantonale Vaudoise purchased a new stake in shares of NOV during the first quarter valued at $25,000. Hantz Financial Services Inc. lifted its stake in NOV by 395.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after acquiring an additional 2,921 shares during the period. Signaturefd LLC boosted its holdings in shares of NOV by 33.2% during the 2nd quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares during the last quarter. Quarry LP grew its stake in shares of NOV by 119.7% in the first quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 1,856 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NOV by 123.8% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,379 shares of the oil and gas exploration company’s stock valued at $67,000 after purchasing an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a research note on Monday, October 6th. Evercore ISI reduced their price objective on NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a research report on Wednesday, July 30th. Susquehanna set a $17.00 target price on NOV and gave the stock a “positive” rating in a research report on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NOV in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $15.54.

NOV Stock Up 2.0%

NOV stock opened at $15.33 on Wednesday. The business’s 50-day moving average price is $13.83 and its 200-day moving average price is $13.18. The stock has a market cap of $5.59 billion, a P/E ratio of 15.33, a PEG ratio of 4.73 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 0.26. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $16.84.

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

About NOV

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.