Gateway Investment Advisers LLC Has $210,000 Stock Holdings in NOV Inc. (NYSE:NOV)

Gateway Investment Advisers LLC decreased its holdings in NOV Inc. (NYSE:NOV) by 8.3% in the first quarter, HoldingsChannel reports. The institutional investor owned 10,761 shares of the oil and gas exploration company’s stock after selling 975 shares during the period. Gateway Investment Advisers LLC’s holdings in NOV were worth $210,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of NOV in the 1st quarter valued at $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of NOV in the 4th quarter valued at $49,000. GAMMA Investing LLC acquired a new stake in shares of NOV during the 4th quarter worth about $61,000. International Assets Investment Management LLC increased its position in shares of NOV by 1,306.5% during the 4th quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock worth $71,000 after purchasing an additional 3,240 shares in the last quarter. Finally, Principal Securities Inc. acquired a new stake in shares of NOV during the 4th quarter worth about $97,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NOV. Susquehanna reiterated a “positive” rating and set a $26.00 target price on shares of NOV in a research report on Monday, April 8th. TD Cowen dropped their target price on shares of NOV from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.07.

NOV Stock Down 0.2 %

Shares of NYSE NOV opened at $18.85 on Thursday. The firm has a market capitalization of $7.46 billion, a PE ratio of 7.57, a price-to-earnings-growth ratio of 0.59 and a beta of 1.70. 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 1 year low of $15.17 and a 1 year high of $21.91. The firm’s 50-day moving average is $18.43 and its 200-day moving average is $18.82.

NOV (NYSE:NOV) last issued its earnings results 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 for the quarter, compared to analyst estimates of $2.11 billion. NOV had a net margin of 11.23% and a return on equity of 10.21%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.32 EPS. Equities analysts expect that NOV Inc. will post 1.56 EPS for the current year.

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend is Friday, June 14th. This is a positive change from NOV’s previous quarterly dividend of $0.05. NOV’s dividend payout ratio (DPR) is 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.