Entropy Technologies LP Has $1.75 Million Stake in NOV Inc. $NOV

Entropy Technologies LP boosted its position in NOV Inc. (NYSE:NOV) by 164.3% during the first quarter, HoldingsChannel.com reports. The fund owned 93,045 shares of the oil and gas exploration company’s stock after buying an additional 57,847 shares during the quarter. Entropy Technologies LP’s holdings in NOV were worth $1,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. grew its holdings in shares of NOV by 203.9% during the 4th quarter. Crossmark Global Holdings Inc. now owns 85,897 shares of the oil and gas exploration company’s stock valued at $1,343,000 after purchasing an additional 57,634 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in NOV during the 1st quarter worth approximately $2,331,000. Wealth Enhancement Advisory Services LLC increased its position in NOV by 99.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 65,626 shares of the oil and gas exploration company’s stock valued at $1,109,000 after acquiring an additional 32,675 shares during the period. Vest Financial LLC raised its position in NOV by 13.5% during the 4th quarter. Vest Financial LLC now owns 430,231 shares of the oil and gas exploration company’s stock worth $6,725,000 after purchasing an additional 51,175 shares during the last quarter. Finally, Fiduciary Alliance LLC raised its position in shares of NOV by 183.9% during the fourth quarter. Fiduciary Alliance LLC now owns 218,486 shares of the oil and gas exploration company’s stock worth $3,415,000 after acquiring an additional 141,525 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

NOV has been the topic of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. The Goldman Sachs Group set a $19.00 price target on shares of NOV in a research note on Wednesday, June 3rd. TD Cowen raised NOV from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 29th. Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. Finally, Morgan Stanley set a $21.00 price objective on NOV in a research note on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $20.50.

NOV Price Performance

NOV stock opened at $20.48 on Tuesday. The company has a current ratio of 2.47, a quick ratio of 1.66 and a debt-to-equity ratio of 0.27. The company has a market cap of $7.35 billion, a price-to-earnings ratio of 85.34 and a beta of 0.91. NOV Inc. has a 12 month low of $11.77 and a 12 month high of $21.55. The business’s 50 day simple moving average is $19.73 and its 200 day simple moving average is $19.37.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.12). The firm had revenue of $2.05 billion during the quarter, compared to analysts’ expectations of $2.05 billion. NOV had a return on equity of 3.34% and a net margin of 1.05%.The company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $0.19 EPS. Sell-side analysts forecast that NOV Inc. will post 0.9 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a special dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.09 dividend. The ex-dividend date was Friday, June 12th. This represents a dividend yield of 170.0%. NOV’s payout ratio is 150.00%.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.