Rise Advisors LLC Invests $26,000 in NOV Inc. (NYSE:NOV)

Rise Advisors LLC bought a new position in shares of NOV Inc. (NYSE:NOV) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,347 shares of the oil and gas exploration company’s stock, valued at approximately $26,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Balyasny Asset Management L.P. grew its stake in shares of NOV by 769.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after purchasing an additional 5,456,581 shares during the last quarter. Schroder Investment Management Group bought a new stake in NOV during the third quarter worth approximately $13,329,000. Goldman Sachs Group Inc. grew its position in NOV by 95.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock worth $17,846,000 after buying an additional 429,104 shares during the last quarter. Edmond DE Rothschild Holding S.A. increased its holdings in shares of NOV by 16.1% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 2,200,000 shares of the oil and gas exploration company’s stock valued at $44,616,000 after buying an additional 305,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in shares of NOV by 68.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 646,973 shares of the oil and gas exploration company’s stock valued at $13,522,000 after acquiring an additional 263,543 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Trading Down 0.8 %

Shares of NYSE:NOV opened at $18.01 on Friday. The firm has a fifty day moving average of $18.44 and a two-hundred day moving average of $18.82. The company has a quick ratio of 1.50, a current ratio of 2.50 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. The firm has a market capitalization of $7.12 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70.

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 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 firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the firm earned $0.32 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts expect that NOV Inc. will post 1.56 EPS for the current fiscal year.

NOV Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.30 dividend on an annualized basis and a yield of 1.67%. This is an increase from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio is currently 12.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NOV. TD Cowen cut their target price on NOV from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Monday, April 29th. Susquehanna restated a “positive” rating and set a $26.00 price objective on shares of NOV in a report on Monday, April 8th. Two 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.07.

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.