Eurizon Capital SGR S.p.A. Purchases Shares of 84,692 NOV Inc. $NOV

Eurizon Capital SGR S.p.A. acquired a new position in shares of NOV Inc. (NYSE:NOV) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 84,692 shares of the oil and gas exploration company’s stock, valued at approximately $1,325,000.

Several other institutional investors and hedge funds also recently made changes to their positions in NOV. V Square Quantitative Management LLC acquired a new stake in shares of NOV in the 4th quarter valued at $28,000. Rothschild Investment LLC grew its stake in NOV by 50.1% during the fourth quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after buying an additional 780 shares during the last quarter. Allworth Financial LP grew its stake in NOV by 37.9% during the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after buying an additional 709 shares during the last quarter. UMB Bank n.a. increased its holdings in shares of NOV by 114.1% during the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock worth $41,000 after buying an additional 1,657 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of NOV during the fourth quarter worth approximately $68,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on NOV shares. Piper Sandler raised their price objective on shares of NOV from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Argus raised shares of NOV to a “hold” rating in a report on Tuesday, February 10th. Susquehanna raised their price objective on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. The Goldman Sachs Group raised their price objective on shares of NOV from $17.00 to $20.00 and gave the stock a “sell” rating in a report on Wednesday, March 4th. Finally, BMO Capital Markets raised their price objective on shares of NOV from $19.00 to $20.00 and gave the stock a “market perform” rating in a report on Monday, February 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, NOV has a consensus rating of “Hold” and an average target price of $19.36.

NOV Stock Performance

Shares of NOV stock opened at $20.47 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.47 and a quick ratio of 1.66. The firm has a market cap of $7.34 billion, a P/E ratio of 85.27 and a beta of 0.89. The firm has a 50 day simple moving average of $19.85 and a 200 day simple moving average of $18.30. NOV Inc. has a fifty-two week low of $11.77 and a fifty-two week high of $21.38.

NOV (NYSE:NOV) last issued its quarterly earnings results on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12). The company had revenue of $2.05 billion during the quarter, compared to analyst estimates of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.19 EPS. Sell-side analysts predict that NOV Inc. will post 0.91 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 12th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a dividend yield of 180.0%. NOV’s dividend payout ratio (DPR) is currently 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.