Hara Capital LLC Purchases New Position in NOV Inc. $NOV

Hara Capital LLC acquired a new position in NOV Inc. (NYSE:NOV) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 39,668 shares of the oil and gas exploration company’s stock, valued at approximately $736,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of NOV by 15.6% during the first quarter. Royal Bank of Canada now owns 49,721 shares of the oil and gas exploration company’s stock worth $756,000 after acquiring an additional 6,711 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of NOV by 35.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 161,927 shares of the oil and gas exploration company’s stock valued at $2,465,000 after purchasing an additional 42,462 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of NOV by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,062,292 shares of the oil and gas exploration company’s stock valued at $16,168,000 after purchasing an additional 157,385 shares during the period. Focus Partners Wealth bought a new stake in shares of NOV during the 1st quarter valued at $214,000. Finally, Cetera Investment Advisers purchased a new stake in NOV during the 2nd quarter worth about $190,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other NOV 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 value of $184,300.74. Following the completion of the transaction, the director owned 126,763 shares of the company’s stock, valued at $2,435,117.23. The trade was a 7.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.15% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on NOV. Capital One Financial raised NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 target price for the company in a report on Thursday, June 4th. Royal Bank Of Canada increased their price target on shares of NOV from $21.00 to $22.00 and gave the stock a “sector perform” rating in a report on Wednesday, April 29th. Barclays cut their price objective on shares of NOV from $21.00 to $20.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Citigroup upped their target price on shares of NOV from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Finally, TD Cowen increased their target price on shares of NOV from $25.00 to $26.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, NOV presently has a consensus rating of “Hold” and a consensus target price of $21.31.

NOV Stock Performance

NYSE:NOV opened at $20.25 on Friday. The business’s 50-day moving average price is $19.55 and its two-hundred day moving average price is $19.65. NOV Inc. has a twelve month low of $12.09 and a twelve month high of $21.67. The stock has a market cap of $7.22 billion, a P/E ratio of 77.88 and a beta of 0.92. 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 issued its quarterly earnings data on Tuesday, July 28th. The oil and gas exploration company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. The company 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%.NOV’s revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. As a group, equities analysts predict that NOV Inc. will post 0.97 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders 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 yield of 1.8%. NOV’s payout ratio is presently 138.46%.

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.