Fideuram Intesa Sanpaolo Private Banking S.P.A. Invests $2.25 Million in NOV Inc. $NOV

Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of NOV Inc. (NYSE:NOV) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 119,692 shares of the oil and gas exploration company’s stock, valued at approximately $2,251,000.

Other hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of NOV during the fourth quarter worth about $28,000. Root Financial Partners LLC lifted its position in NOV by 39.9% in the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in NOV by 659.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 1,978 shares during the period. Rothschild Investment LLC grew its position in NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock worth $37,000 after purchasing an additional 780 shares during the last quarter. Finally, Allworth Financial LP grew its position in NOV by 37.9% in the 4th quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock worth $40,000 after purchasing an additional 709 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NOV shares. Susquehanna lifted their price objective on shares of NOV from $22.00 to $24.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Evercore upgraded shares of NOV to a “hold” rating in a research report on Wednesday, April 29th. Morgan Stanley raised their target price on shares of NOV from $18.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 15th. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research note on Thursday, June 4th. Finally, TD Cowen raised NOV from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $20.57.

NOV Price Performance

NOV opened at $18.02 on Friday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 75.11 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 company has a quick ratio of 1.66, a current ratio of 2.47 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $20.02 and a 200-day moving average of $18.96.

NOV (NYSE:NOV) last released its earnings results 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 business had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $2.05 billion. NOV had a net margin of 1.05% and a return on equity of 3.34%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $0.19 EPS. Equities analysts forecast that NOV Inc. will post 0.9 EPS for the current fiscal year.

NOV Announces Dividend

The company also recently disclosed a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a dividend of $0.09 per share. This represents a dividend yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio (DPR) is currently 150.00%.

NOV 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.