81,483 Shares in NOV Inc. $NOV Acquired by Ieq Capital LLC

Ieq Capital LLC purchased a new stake in NOV Inc. (NYSE:NOV) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 81,483 shares of the oil and gas exploration company’s stock, valued at approximately $1,512,000.

Several other large investors also recently made changes to their positions in NOV. Root Financial Partners LLC raised its stake in shares of NOV by 39.9% in 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 increased its holdings in NOV by 659.3% in the 4th 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 in the last quarter. Rothschild Investment LLC increased its holdings in NOV by 50.1% in the 4th 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in NOV in the second quarter valued at about $37,000. Finally, Altshuler Shaham Ltd lifted its stake in shares of 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 in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

NOV opened at $20.26 on Thursday. The company has a market capitalization of $7.22 billion, a P/E ratio of 77.92 and a beta of 0.92. The company has a 50-day moving average of $19.54 and a 200-day moving average of $19.69. 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 issued its quarterly earnings results on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.08 billion. NOV had a net margin of 1.10% and a return on equity of 3.44%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.29 earnings per share. Equities analysts expect that NOV Inc. will post 0.99 EPS for the current fiscal year.

NOV Dividend Announcement

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 issued a dividend of $0.09 per share. 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%.

Insider Activity at NOV

In other 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 value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in 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 report on Thursday, June 18th. Morgan Stanley set a $21.00 price target on NOV in a research report on Wednesday, July 15th. The Goldman Sachs Group set a $19.00 price objective on shares of NOV in a research report on Wednesday, June 3rd. Barclays dropped their price objective on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. Finally, Zacks Research upgraded shares of NOV from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $21.31.

About NOV

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.