69,101 Shares in NOV Inc. $NOV Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC purchased a new stake in shares of NOV Inc. (NYSE:NOV) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 69,101 shares of the oil and gas exploration company’s stock, valued at approximately $1,287,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Legal & General Group Plc acquired a new position in NOV in the second quarter worth $9,989,000. The Manufacturers Life Insurance Company acquired a new stake in shares of NOV in the second quarter valued at $4,726,000. Ally Financial Inc. acquired a new stake in shares of NOV in the second quarter valued at $464,000. OMERS ADMINISTRATION Corp bought a new position in shares of NOV in the second quarter valued at about $317,000. Finally, Sanctuary Advisors LLC acquired a new position in NOV during the 2nd quarter worth about $372,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at NOV

In related news, Director David D. Harrison sold 9,594 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $19.21, for a total transaction of $184,300.74. Following the completion of the sale, the director directly owned 126,763 shares of the company’s stock, valued at $2,435,117.23. The trade was a 7.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on NOV. Capital One Financial raised shares of NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price objective on the stock in a report on Thursday, June 4th. The Goldman Sachs Group set a $19.00 target price on shares of NOV in a research note on Wednesday, June 3rd. Susquehanna upped their target price on shares of NOV from $22.00 to $24.00 and gave the stock a “positive” rating in a research report on Thursday, July 30th. Barclays decreased their price target on shares of NOV from $21.00 to $20.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. Finally, Citigroup raised their price target on shares of NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. Five investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.31.

NOV Price Performance

NOV stock opened at $21.24 on Tuesday. The business’s 50-day simple moving average is $19.68 and its 200 day simple moving average is $19.74. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 81.69 and a beta of 0.92. NOV Inc. has a 12-month low of $12.28 and a 12-month high of $21.68. The company has a quick ratio of 1.61, a current ratio of 2.42 and a debt-to-equity ratio of 0.27.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.08 billion. NOV had a return on equity of 3.44% and a net margin of 1.10%.The company’s revenue was down 2.5% on a year-over-year basis. During the same period last year, the company earned $0.29 earnings per share. As a group, research analysts anticipate that NOV Inc. will post 0.99 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 11th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 11th. This represents a $0.36 annualized dividend and a dividend yield of 1.7%. NOV’s payout ratio is currently 138.46%.

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.