NOV Inc. (NYSE:NOV) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank grew its position in NOV Inc. (NYSE:NOV) by 19.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,312 shares of the oil and gas exploration company’s stock after purchasing an additional 6,967 shares during the period. First Hawaiian Bank’s holdings in NOV were worth $845,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bruce G. Allen Investments LLC acquired a new position in shares of NOV in the fourth quarter valued at about $49,000. GAMMA Investing LLC acquired a new position in shares of NOV in the fourth quarter valued at about $61,000. International Assets Investment Management LLC increased its holdings in shares of NOV by 1,306.5% in the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after purchasing an additional 3,240 shares during the period. Principal Securities Inc. acquired a new position in shares of NOV in the fourth quarter valued at about $97,000. Finally, Headinvest LLC acquired a new position in shares of NOV in the third quarter valued at about $108,000. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NOV shares. TD Cowen lowered their target price on NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Susquehanna restated a “positive” rating and issued a $26.00 target price on shares of NOV in a research note on Monday, April 8th. Two equities 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 company. According to MarketBeat, NOV currently has an average rating of “Hold” and an average target price of $24.07.

NOV Stock Performance

Shares of NOV stock opened at $18.16 on Friday. The company has a market capitalization of $7.18 billion, a P/E ratio of 7.29, a P/E/G ratio of 0.57 and a beta of 1.70. The business’s 50 day moving average is $18.51 and its two-hundred day moving average is $18.83. The company has a current ratio of 2.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.28. NOV Inc. has a 12-month low of $14.85 and a 12-month high of $21.91.

NOV (NYSE:NOV) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas exploration company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.03. NOV had a return on equity of 10.21% and a net margin of 11.23%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the prior year, the business posted $0.32 earnings per share. NOV’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts expect that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.65%. This is a boost from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio is presently 12.05%.

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.