Raymond James Financial Inc. Acquires New Shares in NOV Inc. (NYSE:NOV)

Raymond James Financial Inc. acquired a new stake in NOV Inc. (NYSE:NOV - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 228,252 shares of the oil and gas exploration company's stock, valued at approximately $3,332,000. Raymond James Financial Inc. owned approximately 0.06% of NOV at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NOV. Verum Partners LLC boosted its stake in NOV by 9.0% during the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock valued at $220,000 after purchasing an additional 1,248 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 1,612 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in NOV by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock valued at $271,000 after buying an additional 1,656 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its holdings in NOV by 3.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company's stock worth $874,000 after acquiring an additional 2,040 shares during the period. Finally, Quarry LP bought a new stake in NOV in the third quarter worth about $36,000. Institutional investors and hedge funds own 93.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on NOV shares. Raymond James raised their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Seaport Res Ptn cut shares of NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. ATB Capital restated a "sector perform" rating and issued a $19.00 price target on shares of NOV in a research report on Tuesday, December 10th. Royal Bank of Canada upgraded NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective for the company in a research report on Monday, March 24th. Finally, Atb Cap Markets lowered NOV from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $19.60.

NOV Stock Up 1.8 %

NOV stock traded up $0.27 during trading hours on Monday, hitting $15.26. The company had a trading volume of 4,006,095 shares, compared to its average volume of 3,794,190. NOV Inc. has a fifty-two week low of $13.78 and a fifty-two week high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The firm has a market capitalization of $5.81 billion, a P/E ratio of 9.48, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66. The firm's fifty day moving average is $14.99 and its 200-day moving average is $15.38.

NOV (NYSE:NOV - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, research analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 1.97%. NOV's payout ratio is 18.63%.

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.