37,283 Shares in NOV Inc. (NYSE:NOV) Acquired by Diversified Trust Co

Diversified Trust Co bought a new stake in shares of NOV Inc. (NYSE:NOV) during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,283 shares of the oil and gas exploration company’s stock, valued at approximately $595,000.

Several other hedge funds also recently bought and sold shares of the stock. Rise Advisors LLC acquired a new position in shares of NOV in the first quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in NOV in the 2nd quarter valued at $28,000. Riverview Trust Co purchased a new position in shares of NOV during the 1st quarter worth $39,000. American National Bank & Trust acquired a new stake in shares of NOV during the third quarter worth $39,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of NOV in the second quarter valued at $78,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Stock Up 1.4 %

Shares of NYSE:NOV opened at $16.15 on Friday. The company has a market capitalization of $6.39 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.50 and a beta of 1.67. The company has a 50 day moving average of $16.98 and a two-hundred day moving average of $18.17. NOV Inc. has a 52-week low of $15.47 and a 52-week high of $21.53. The company has a quick ratio of 1.64, a current ratio of 2.61 and a debt-to-equity ratio of 0.27.

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

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.86%. The ex-dividend date was Friday, September 13th. NOV’s dividend payout ratio (DPR) is 12.05%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NOV shares. Evercore ISI raised NOV to a “strong-buy” rating in a research note on Friday, July 26th. JPMorgan Chase & Co. lowered their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company downgraded shares of NOV from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $20.00 to $16.00 in a research note on Wednesday, September 25th. Benchmark reissued a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Barclays increased their target price on NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.29.

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.