Lee Danner & Bass Inc. Takes $4.70 Million Position in NOV Inc. (NYSE:NOV)

Lee Danner & Bass Inc. acquired a new stake in shares of NOV Inc. (NYSE:NOV) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 247,000 shares of the oil and gas exploration company’s stock, valued at approximately $4,695,000. Lee Danner & Bass Inc. owned approximately 0.06% of NOV at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NOV. Rise Advisors LLC bought a new position in shares of NOV during the 1st quarter valued at about $26,000. Riverview Trust Co bought a new position in shares of NOV during the 1st quarter valued at about $39,000. GAMMA Investing LLC purchased a new stake in NOV during the fourth quarter valued at about $61,000. International Assets Investment Management LLC lifted its stake in NOV by 1,306.5% during the fourth quarter. International Assets Investment Management LLC now owns 3,488 shares of the oil and gas exploration company’s stock valued at $71,000 after buying an additional 3,240 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC purchased a new stake in NOV during the first quarter valued at about $78,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Down 1.1 %

NYSE:NOV traded down $0.19 during mid-day trading on Friday, reaching $17.76. The stock had a trading volume of 2,619,980 shares, compared to its average volume of 3,629,746. The business’s 50 day moving average is $18.44 and its 200 day moving average is $18.44. NOV Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $21.91. The stock has a market cap of $7.02 billion, a P/E ratio of 7.13, a PEG ratio of 0.59 and a beta of 1.70. 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 (NYSE:NOV) last released its quarterly earnings data on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. NOV had a return on equity of 10.97% and a net margin of 11.88%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, sell-side analysts predict that NOV Inc. will post 1.61 earnings per share for the current year.

NOV Announces Dividend

The company 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. The ex-dividend date is Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a yield of 1.69%. NOV’s dividend payout ratio is currently 12.05%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Piper Sandler reduced their price objective on shares of NOV from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price objective on shares of NOV in a research note on Monday, July 29th. Benchmark reaffirmed a “hold” rating on shares of NOV in a research note on Friday, July 26th. TD Cowen upped their price objective on shares of NOV from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Bank of America reduced their price objective on shares of NOV from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Monday, July 15th. One analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, NOV presently has a consensus rating of “Moderate Buy” and an average target price 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.