14,309 Shares in NOV Inc. (NYSE:NOV) Acquired by Point72 DIFC Ltd

Point72 DIFC Ltd bought a new stake in NOV Inc. (NYSE:NOV) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 14,309 shares of the oil and gas exploration company’s stock, valued at approximately $272,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. US Bancorp DE grew its stake in NOV by 5.1% during the 4th quarter. US Bancorp DE now owns 32,786 shares of the oil and gas exploration company’s stock worth $665,000 after buying an additional 1,584 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in NOV by 8.7% in the fourth quarter. Hsbc Holdings PLC now owns 72,397 shares of the oil and gas exploration company’s stock worth $1,475,000 after acquiring an additional 5,801 shares in the last quarter. United Services Automobile Association grew its stake in shares of NOV by 11.6% during the fourth quarter. United Services Automobile Association now owns 32,975 shares of the oil and gas exploration company’s stock worth $669,000 after acquiring an additional 3,440 shares during the last quarter. TD Asset Management Inc increased its holdings in shares of NOV by 79.7% during the fourth quarter. TD Asset Management Inc now owns 86,278 shares of the oil and gas exploration company’s stock valued at $1,750,000 after acquiring an additional 38,278 shares in the last quarter. Finally, Treasurer of the State of North Carolina raised its position in shares of NOV by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 173,988 shares of the oil and gas exploration company’s stock valued at $3,528,000 after purchasing an additional 1,700 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOV. Barclays upped their price target on shares of NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lowered NOV from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.00 in a research note on Wednesday. Morgan Stanley dropped their price target on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Evercore ISI upgraded NOV to a “strong-buy” rating in a research note on Friday, July 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research report on Monday, July 29th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

NOV Stock Down 1.7 %

NOV stock opened at $15.85 on Friday. NOV Inc. has a one year low of $15.47 and a one year high of $21.71. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.64 and a current ratio of 2.61. The firm’s fifty day moving average is $17.62 and its 200 day moving average is $18.34. The firm has a market cap of $6.27 billion, a PE ratio of 6.37, a P/E/G ratio of 0.50 and a beta of 1.67.

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

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.075 per share. 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 1.89%. NOV’s dividend payout ratio (DPR) is 12.05%.

NOV Profile

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.