Semanteon Capital Management LP Invests $1.15 Million in NOV Inc. (NYSE:NOV)

Semanteon Capital Management LP purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 71,882 shares of the oil and gas exploration company’s stock, valued at approximately $1,148,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. State of Alaska Department of Revenue grew its stake in shares of NOV by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 45,817 shares of the oil and gas exploration company’s stock valued at $731,000 after buying an additional 3,100 shares during the last quarter. International Assets Investment Management LLC increased its stake in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 2,735 shares during the period. Narwhal Capital Management lifted its position in shares of NOV by 23.6% during the third quarter. Narwhal Capital Management now owns 281,449 shares of the oil and gas exploration company’s stock worth $4,495,000 after purchasing an additional 53,691 shares during the last quarter. Stanley Laman Group Ltd. boosted its stake in shares of NOV by 19.9% during the third quarter. Stanley Laman Group Ltd. now owns 254,118 shares of the oil and gas exploration company’s stock valued at $4,058,000 after purchasing an additional 42,092 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in shares of NOV in the third quarter worth about $217,000. 93.27% of the stock is owned by hedge funds and other institutional investors.

NOV Stock Performance

NYSE:NOV traded up $0.01 during trading hours on Monday, reaching $15.73. The company had a trading volume of 227,127 shares, compared to its average volume of 3,703,425. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. NOV Inc. has a 1-year low of $14.98 and a 1-year high of $21.23. The business’s 50 day moving average price is $16.50 and its 200-day moving average price is $17.82. The firm has a market cap of $6.19 billion, a PE ratio of 5.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.67.

NOV (NYSE:NOV) last posted its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) 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 analysts’ expectations of $2.19 billion. NOV had a net margin of 11.88% and a return on equity of 10.97%. The business’s revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. Research analysts forecast that NOV Inc. will post 1.6 EPS for the current year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a $0.075 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.91%. NOV’s dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Benchmark restated a “hold” rating on shares of NOV in a research note on Friday, July 26th. JPMorgan Chase & Co. reduced their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Barclays lowered their target price on NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a report on Wednesday, October 16th. Susquehanna cut their price target on NOV from $26.00 to $22.00 and set a “positive” rating on the stock in a research note on Friday, October 11th. Finally, TD Cowen lowered their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine 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 an average price target of $22.07.

NOV Company 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.