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

WINTON GROUP Ltd grew its stake in shares of NOV Inc. (NYSE:NOV) by 1,866.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 841,078 shares of the oil and gas exploration company’s stock after acquiring an additional 798,303 shares during the period. NOV comprises 1.1% of WINTON GROUP Ltd’s portfolio, making the stock its 28th biggest holding. WINTON GROUP Ltd’s holdings in NOV were worth $15,989,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Boston Partners purchased a new position in shares of NOV during the 1st quarter valued at $119,686,000. Balyasny Asset Management L.P. grew its position in NOV by 769.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,166,061 shares of the oil and gas exploration company’s stock worth $125,048,000 after buying an additional 5,456,581 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of NOV by 67.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after acquiring an additional 3,989,095 shares in the last quarter. Pzena Investment Management LLC boosted its position in shares of NOV by 12.7% during the 1st quarter. Pzena Investment Management LLC now owns 35,072,648 shares of the oil and gas exploration company’s stock valued at $684,618,000 after acquiring an additional 3,946,504 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in NOV by 779.9% in the 1st quarter. SG Americas Securities LLC now owns 858,823 shares of the oil and gas exploration company’s stock worth $16,764,000 after buying an additional 761,219 shares in the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on NOV. TD Cowen raised their price objective on shares of NOV from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Evercore ISI raised shares of NOV to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Monday, July 29th. Benchmark reissued a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Barclays increased their target price on NOV from $17.00 to $20.00 and gave the company an “underweight” rating in a report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.58.

NOV Trading Down 0.4 %

Shares of NOV opened at $15.86 on Friday. NOV Inc. has a 1-year low of $15.47 and a 1-year high of $21.71. The company has a current ratio of 2.61, a quick ratio of 1.64 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $18.01 and its 200-day moving average price is $18.39. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.47 and a beta of 1.67.

NOV (NYSE:NOV) last released its earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. The company had revenue of $2.22 billion during 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 revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 EPS. Sell-side analysts anticipate that NOV Inc. will post 1.63 EPS for the current year.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Friday, September 13th. NOV’s dividend payout ratio is presently 12.05%.

NOV 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.