GAMMA Investing LLC Purchases Shares of 3,151 NOV Inc. (NYSE:NOV)

GAMMA Investing LLC purchased a new position in NOV Inc. (NYSE:NOV) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,151 shares of the oil and gas exploration company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. CWM LLC increased its holdings in shares of NOV by 10.8% in the fourth quarter. CWM LLC now owns 5,480 shares of the oil and gas exploration company’s stock worth $111,000 after purchasing an additional 536 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in NOV by 11.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 82,331 shares of the oil and gas exploration company’s stock worth $1,670,000 after acquiring an additional 8,591 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of NOV by 1.4% during the 4th quarter. Mackenzie Financial Corp now owns 154,285 shares of the oil and gas exploration company’s stock worth $3,129,000 after acquiring an additional 2,079 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in shares of NOV during the 4th quarter valued at approximately $2,243,000. Finally, Sequoia Financial Advisors LLC increased its position in NOV by 135.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 33,113 shares of the oil and gas exploration company’s stock worth $672,000 after purchasing an additional 19,079 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Insiders Place Their Bets

In other NOV news, CAO Christy Lynn Novak sold 3,500 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the sale, the chief accounting officer now directly owns 114,212 shares in the company, valued at approximately $1,990,715.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.85% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NOV has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research report on Tuesday, February 6th. StockNews.com raised shares of NOV from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Stifel Nicolaus reduced their price objective on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Raymond James lowered their price objective on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Finally, Susquehanna reissued a “positive” rating and set a $26.00 target price on shares of NOV in a research report on Monday, April 8th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.07.

NOV Stock Down 0.6 %

Shares of NOV opened at $18.38 on Thursday. The firm has a fifty day moving average price of $18.67 and a 200-day moving average price of $19.13. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $7.27 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.84 and a beta of 1.74. NOV Inc. has a 12-month low of $14.05 and a 12-month high of $21.91.

NOV (NYSE:NOV) last released its quarterly earnings data on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.03. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities research analysts expect that NOV Inc. will post 1.52 earnings per share for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 annualized dividend and a yield of 1.09%. NOV’s dividend payout ratio (DPR) is currently 8.03%.

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.