Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Shares in NOV Inc. $NOV

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of NOV Inc. (NYSE:NOV) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 119,692 shares of the oil and gas exploration company’s stock, valued at approximately $2,251,000.

Other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of NOV by 2.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,972,635 shares of the oil and gas exploration company’s stock valued at $296,547,000 after acquiring an additional 394,582 shares in the last quarter. First Trust Advisors LP grew its holdings in NOV by 0.4% during the fourth quarter. First Trust Advisors LP now owns 7,033,947 shares of the oil and gas exploration company’s stock valued at $109,941,000 after purchasing an additional 25,610 shares during the last quarter. Bank of America Corp DE raised its position in shares of NOV by 14.8% in the third 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. Price T Rowe Associates Inc. MD lifted its stake in shares of NOV by 1,743.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,059,400 shares of the oil and gas exploration company’s stock worth $79,080,000 after buying an additional 4,785,015 shares during the last quarter. Finally, Oldfield Partners LLP lifted its stake in shares of NOV by 5.8% in the fourth quarter. Oldfield Partners LLP now owns 5,045,332 shares of the oil and gas exploration company’s stock worth $78,859,000 after buying an additional 276,961 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

NOV has been the topic of a number of research analyst reports. Capital One Financial upgraded shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Thursday, June 4th. Susquehanna lifted their price objective on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Citigroup boosted their price objective on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a report on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $19.00 price target on NOV in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, NOV has an average rating of “Hold” and an average price target of $20.57.

NOV Stock Up 0.0%

NOV stock opened at $18.02 on Friday. NOV Inc. has a twelve month low of $11.77 and a twelve month high of $21.55. The company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. The company has a market cap of $6.47 billion, a PE ratio of 75.11 and a beta of 0.91. The business’s 50-day simple moving average is $20.02 and its 200 day simple moving average is $18.96.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The firm had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. During the same period last year, the company earned $0.19 EPS. The company’s revenue was down 2.4% on a year-over-year basis. On average, research analysts anticipate that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Dividend Announcement

The company also recently announced a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were given a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date of this dividend was Friday, June 12th. NOV’s dividend payout ratio (DPR) is 150.00%.

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.