Hara Capital LLC Invests $736,000 in NOV Inc. $NOV

Hara Capital LLC bought a new stake in shares of NOV Inc. (NYSE:NOV) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 39,668 shares of the oil and gas exploration company’s stock, valued at approximately $736,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Root Financial Partners LLC boosted its holdings in NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after acquiring an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of NOV by 659.3% in the fourth 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 last quarter. Rothschild Investment LLC raised its holdings in shares of NOV by 50.1% in the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after purchasing an additional 780 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of NOV during the second quarter valued at about $37,000. Finally, Altshuler Shaham Ltd boosted its holdings in NOV by 36.8% during the first 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. 93.27% of the stock is owned by hedge funds and other 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 on Friday, July 31st. The stock was 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 $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NOV shares. Citigroup increased their price objective 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. The Goldman Sachs Group set a $19.00 target price on NOV in a research note on Wednesday, June 3rd. Barclays reduced their target price on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Royal Bank Of Canada increased their price target on NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research report on Wednesday, April 29th. Finally, Evercore upgraded NOV to a “hold” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.31.

NOV Stock Performance

Shares of NOV stock opened at $20.25 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. The firm has a market cap of $7.22 billion, a price-to-earnings ratio of 77.88 and a beta of 0.92. NOV Inc. has a 52 week low of $12.09 and a 52 week high of $21.67. The firm’s 50-day simple moving average is $19.55 and its two-hundred day simple moving average is $19.65.

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, beating analysts’ consensus estimates 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 prior year, the firm earned $0.29 EPS. The company’s revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts forecast that NOV Inc. will post 0.97 earnings per share for the current year.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, September 11th. NOV’s dividend payout ratio (DPR) is currently 138.46%.

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.