DiNuzzo Private Wealth Inc. Grows Stock Holdings in NOV Inc. (NYSE:NOV)

DiNuzzo Private Wealth Inc. increased its stake in shares of NOV Inc. (NYSE:NOV) by 10,701.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,913 shares of the oil and gas exploration company’s stock after acquiring an additional 6,849 shares during the quarter. DiNuzzo Private Wealth Inc.’s holdings in NOV were worth $110,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NOV. Pzena Investment Management LLC increased its position in NOV by 0.3% during the second quarter. Pzena Investment Management LLC now owns 35,175,886 shares of the oil and gas exploration company’s stock valued at $668,694,000 after acquiring an additional 103,238 shares during the last quarter. Dimensional Fund Advisors LP raised its position in NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after buying an additional 3,470,860 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in NOV by 67.2% during the second quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after acquiring an additional 3,989,095 shares during the period. Boston Partners acquired a new stake in NOV in the 1st quarter valued at $119,686,000. Finally, AQR Capital Management LLC increased its position in shares of NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after purchasing an additional 3,418,885 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Performance

Shares of NOV stock opened at $15.62 on Friday. The firm’s fifty day simple moving average is $16.78 and its 200-day simple moving average is $18.05. NOV Inc. has a 12 month low of $15.38 and a 12 month high of $21.53. The stock has a market capitalization of $6.18 billion, a price-to-earnings ratio of 6.27, a PEG ratio of 0.47 and a beta of 1.67. 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 issued its quarterly earnings results on Thursday, July 25th. The oil and gas exploration company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, equities analysts forecast that NOV Inc. will post 1.64 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 annualized dividend and a yield of 1.92%. NOV’s dividend payout ratio is currently 12.05%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NOV. BMO Capital Markets dropped their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Morgan Stanley lowered their price objective on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Barclays cut their target price on NOV from $20.00 to $17.00 and set an “underweight” rating for the company in a research note on Wednesday. Stifel Nicolaus decreased their target price on shares of NOV from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, October 11th. Finally, Wells Fargo & Company downgraded NOV from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $20.00 to $16.00 in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NOV presently has an average rating of “Moderate Buy” and an average target price of $22.57.

About NOV

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.