WINTON GROUP Ltd Acquires 798,303 Shares of NOV Inc. (NYSE:NOV)

WINTON GROUP Ltd increased its holdings in shares of NOV Inc. (NYSE:NOV) by 1,866.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 841,078 shares of the oil and gas exploration company’s stock after purchasing an additional 798,303 shares during the period. NOV makes up about 1.1% of WINTON GROUP Ltd’s holdings, making the stock its 28th biggest position. WINTON GROUP Ltd owned 0.21% of NOV worth $15,989,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its stake in shares of NOV by 95.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 879,960 shares of the oil and gas exploration company’s stock valued at $17,846,000 after acquiring an additional 429,104 shares in the last quarter. Wintrust Investments LLC increased its stake in NOV by 631.6% in the first quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock valued at $1,600,000 after purchasing an additional 70,743 shares in the last quarter. Stanley Laman Group Ltd. acquired a new position in shares of NOV during the second quarter valued at about $4,031,000. Edmond DE Rothschild Holding S.A. boosted its position in shares of NOV by 16.1% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 2,200,000 shares of the oil and gas exploration company’s stock worth $44,616,000 after purchasing an additional 305,000 shares in the last quarter. Finally, Schroder Investment Management Group increased its position in NOV by 71.3% in the 4th quarter. Schroder Investment Management Group now owns 1,092,422 shares of the oil and gas exploration company’s stock valued at $22,154,000 after buying an additional 454,665 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NYSE:NOV opened at $15.86 on Friday. The company has a market capitalization of $6.24 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.47 and a beta of 1.67. The business has a fifty day simple moving average of $18.01 and a two-hundred day simple moving average of $18.39. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.61 and a quick ratio of 1.64. NOV Inc. has a 1 year low of $15.47 and a 1 year high of $21.71.

NOV (NYSE:NOV) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. The business had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.19 billion. NOV had a return on equity of 10.97% and a net margin of 11.88%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. On average, analysts expect that NOV Inc. will post 1.63 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.89%. The ex-dividend date of this dividend is Friday, September 13th. NOV’s dividend payout ratio (DPR) is presently 12.05%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NOV shares. Bank of America cut their price target on NOV from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Benchmark restated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research note on Monday, July 29th. Barclays boosted their target price on shares of NOV from $17.00 to $20.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 30th. Finally, TD Cowen boosted their price objective on NOV from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.58.

NOV Company Profile

NOV Inc designs, constructs, manufactures, and sells systems, components, and products for oil and gas drilling and production, and industrial and renewable energy sectors in the United States and internationally. It operates through two segments, Energy Equipment, and Energy Products and Services. The company provides solids control and waste management equipment and services, managed pressure drilling, drilling fluids, premium drillpipe, wired pipe, drilling optimization services, tubular inspection and coating services, instrumentation, downhole tools, and drill bits.