189,248 Shares in NOV Inc. $NOV Purchased by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC bought a new stake in NOV Inc. (NYSE:NOV) during the second quarter, HoldingsChannel reports. The fund bought 189,248 shares of the oil and gas exploration company’s stock, valued at approximately $3,511,000.

Other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC lifted its stake 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 valued at $36,000 after acquiring an additional 552 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of NOV by 659.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock worth $36,000 after purchasing an additional 1,978 shares during the last quarter. Rothschild Investment LLC boosted its holdings in 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. acquired a new stake in NOV during the 2nd quarter worth about $37,000. Finally, Altshuler Shaham Ltd raised its stake in shares of NOV by 36.8% during the 1st quarter. Altshuler Shaham Ltd now owns 2,030 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 546 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NOV. Citigroup upped their target price on NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Barclays reduced their price target on NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Susquehanna upped their price objective on NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $19.00 target price on shares of NOV in a report on Wednesday, June 3rd. 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’s stock. According to MarketBeat.com, NOV currently has an average rating of “Hold” and a consensus price target of $21.31.

NOV Price Performance

NOV stock opened at $20.99 on Friday. The stock has a market capitalization of $7.48 billion, a P/E ratio of 80.73 and a beta of 0.92. The company’s fifty day moving average price is $19.63 and its 200 day moving average price is $19.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.61 and a current ratio of 2.42. NOV Inc. has a 1 year low of $12.28 and a 1 year high of $21.67.

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

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, September 11th. NOV’s dividend payout ratio (DPR) is 138.46%.

Insider Activity

In related news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.15% of the stock is owned by corporate insiders.

NOV Company 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.