LifePro Asset Management Purchases New Holdings in NOV Inc. (NYSE:NOV)

LifePro Asset Management bought a new position in NOV Inc. (NYSE:NOV) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 524,172 shares of the oil and gas exploration company’s stock, valued at approximately $8,030,000. NOV makes up approximately 2.4% of LifePro Asset Management’s investment portfolio, making the stock its 19th biggest position. LifePro Asset Management owned about 0.13% of NOV as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP grew its stake in shares of NOV by 111.4% in the first quarter. First Trust Advisors LP now owns 127,021 shares of the oil and gas exploration company’s stock worth $3,384,000 after acquiring an additional 66,949 shares in the last quarter. Comerica Bank grew its stake in shares of NOV by 13.0% in the first quarter. Comerica Bank now owns 122,143 shares of the oil and gas exploration company’s stock worth $1,623,000 after acquiring an additional 14,034 shares in the last quarter. US Bancorp DE grew its stake in shares of NOV by 18.5% in the first quarter. US Bancorp DE now owns 39,374 shares of the oil and gas exploration company’s stock worth $540,000 after acquiring an additional 6,153 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of NOV in the first quarter worth $175,000. Finally, State of Michigan Retirement System acquired a new position in shares of NOV in the first quarter worth $1,337,000. Institutional investors and hedge funds own 92.86% of the company’s stock.

NOV traded up $0.29 on Wednesday, hitting $13.82. 203,593 shares of the company were exchanged, compared to its average volume of 4,783,707. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.98 and a current ratio of 2.71. The business’s fifty day moving average is $13.46 and its 200 day moving average is $14.75. NOV Inc. has a fifty-two week low of $7.70 and a fifty-two week high of $18.02. The firm has a market capitalization of $5.40 billion, a P/E ratio of -9.87 and a beta of 2.31.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, July 27th. The oil and gas exploration company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. NOV had a negative net margin of 10.10% and a negative return on equity of 5.46%. The company had revenue of $1.42 billion for the quarter, compared to analyst estimates of $1.37 billion. Analysts forecast that NOV Inc. will post -0.5 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on NOV shares. Bank of America raised shares of NOV from a “neutral” rating to a “buy” rating in a research report on Friday, July 16th. Seaport Res Ptn reaffirmed a “buy” rating on shares of NOV in a research report on Thursday, July 15th. BMO Capital Markets raised shares of NOV from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $14.00 to $15.00 in a research report on Monday, July 19th. Morgan Stanley raised shares of NOV from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $13.00 to $18.00 in a research report on Friday, July 9th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $15.00 price objective on shares of NOV in a research report on Thursday, September 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $16.69.

NOV Company Profile

NOV, Inc provides equipment and technology to the upstream oil and gas industry. It operates through the following segments: Rig Technologies, Wellbore Technologies, and Completion and Production Solutions. The Rig Technologies segment monitors its capital equipment backlog to plan its business. The Wellbore Technologies segment designs, manufactures, rents, and sells a variety of equipment and technologies used to perform drilling operations and offers services that optimize their performance.

Recommended Story: Technical Analysis

Institutional Ownership by Quarter for NOV (NYSE:NOV)

Receive News & Ratings for NOV Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NOV and related companies with MarketBeat.com's FREE daily email newsletter.