Geode Capital Management LLC Has $83.70 Million Stock Holdings in NOV Inc. $NOV

by · The Markets Daily

Geode Capital Management LLC reduced its position in shares of NOV Inc. (NYSE:NOV – Free Report) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,732,365 shares of the oil and gas exploration company’s stock after selling 200,424 shares during the quarter. Geode Capital Management LLC’s holdings in NOV were worth $83,695,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in shares of NOV by 33.2% during the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after acquiring an additional 931 shares in the last quarter. Vident Advisory LLC grew its position in NOV by 9.6% in the 1st quarter. Vident Advisory LLC now owns 12,860 shares of the oil and gas exploration company’s stock valued at $196,000 after purchasing an additional 1,126 shares during the period. Keeley Teton Advisors LLC increased its stake in NOV by 1.1% during the 1st quarter. Keeley Teton Advisors LLC now owns 107,317 shares of the oil and gas exploration company’s stock valued at $1,633,000 after purchasing an additional 1,128 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in NOV by 30.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock worth $75,000 after buying an additional 1,155 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of NOV by 2.8% in the first quarter. Voya Investment Management LLC now owns 48,413 shares of the oil and gas exploration company’s stock valued at $737,000 after buying an additional 1,309 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Up 4.0%

NOV stock opened at $14.96 on Friday. The stock’s fifty day simple moving average is $13.93 and its two-hundred day simple moving average is $13.22. The company has a current ratio of 2.55, a quick ratio of 1.72 and a debt-to-equity ratio of 0.26. NOV Inc. has a 1-year low of $10.84 and a 1-year high of $16.84. The stock has a market cap of $5.46 billion, a P/E ratio of 14.96, a P/E/G ratio of 4.73 and a beta of 1.25.

NOV (NYSE:NOV – Get Free Report) last announced its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a net margin of 4.36% and a return on equity of 5.89%. The company’s revenue for the quarter was down .7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. Analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be given a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.30 annualized dividend and a yield of 2.0%. NOV’s payout ratio is currently 30.00%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NOV. Stifel Nicolaus boosted their target price on shares of NOV from $17.00 to $19.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group boosted their price objective on NOV from $12.00 to $14.00 and gave the stock a “sell” rating in a report on Wednesday, November 5th. Zacks Research upgraded NOV from a “strong sell” rating to a “hold” rating in a report on Monday, October 6th. Evercore ISI decreased their price target on NOV from $15.00 to $14.00 and set an “in-line” rating for the company in a report on Wednesday, July 30th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of NOV in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, NOV currently has a consensus rating of “Hold” and a consensus price target of $15.54.

Get Our Latest Research Report on NOV

NOV Profile

(Free Report)

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.

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