Lodge Hill Capital LLC Has $17.90 Million Position in NOV Inc. (NYSE:NOV)

Lodge Hill Capital LLC grew its holdings in NOV Inc. (NYSE:NOV) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 941,400 shares of the oil and gas exploration company’s stock after acquiring an additional 25,000 shares during the period. NOV accounts for 4.8% of Lodge Hill Capital LLC’s portfolio, making the stock its 9th largest holding. Lodge Hill Capital LLC’s holdings in NOV were worth $17,896,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Rise Advisors LLC purchased a new stake in shares of NOV in the 1st quarter worth $26,000. Rothschild Investment LLC bought a new stake in NOV during the second quarter valued at about $28,000. Riverview Trust Co purchased a new stake in NOV in the first quarter worth about $39,000. SYSTM Wealth Solutions LLC bought a new position in shares of NOV in the first quarter worth about $78,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in shares of NOV during the 2nd quarter valued at about $78,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Price Performance

NYSE:NOV opened at $16.90 on Friday. The business’s 50-day moving average is $17.86 and its 200 day moving average is $18.37. NOV Inc. has a 12 month low of $15.47 and a 12 month high of $21.71. The company has a market capitalization of $6.68 billion, a P/E ratio of 6.79, a P/E/G ratio of 0.47 and a beta of 1.67. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the prior year, the firm earned $0.39 EPS. The company’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, equities research analysts forecast that NOV Inc. will post 1.63 earnings per share for the current fiscal year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.78%. NOV’s payout ratio is currently 12.05%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on NOV shares. Bank of America reduced their target price on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, July 15th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research note on Monday, July 29th. Piper Sandler lowered their target price on shares of NOV from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Benchmark reiterated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Evercore ISI raised NOV to a “strong-buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $24.42.

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.