Mountain Lake Investment Management LLC raised its stake in NOV Inc. (NYSE:NOV) by 6.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 750,000 shares of the oil and gas exploration company’s stock after acquiring an additional 47,000 shares during the quarter. NOV makes up 5.8% of Mountain Lake Investment Management LLC’s holdings, making the stock its 7th biggest position. Mountain Lake Investment Management LLC owned approximately 0.19% of NOV worth $10,290,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Berman Capital Advisors LLC raised its position in shares of NOV by 108.6% in the fourth quarter. Berman Capital Advisors LLC now owns 2,380 shares of the oil and gas exploration company’s stock valued at $32,000 after purchasing an additional 1,239 shares during the period. Sentry Investment Management LLC bought a new stake in shares of NOV in the first quarter valued at approximately $34,000. Quadrant Capital Group LLC bought a new stake in shares of NOV in the first quarter valued at approximately $36,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of NOV in the first quarter valued at approximately $43,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of NOV by 229.1% in the first quarter. Rockefeller Capital Management L.P. now owns 3,159 shares of the oil and gas exploration company’s stock valued at $43,000 after purchasing an additional 2,199 shares during the period. Hedge funds and other institutional investors own 91.15% of the company’s stock.
A number of equities research analysts have recently issued reports on the stock. Seaport Global Securities assumed coverage on shares of NOV in a research note on Thursday, July 15th. They issued a “buy” rating and a $19.00 price objective for the company. Bank of America upgraded shares of NOV from a “neutral” rating to a “buy” rating in a report on Friday, July 16th. The Goldman Sachs Group started coverage on shares of NOV in a research note on Thursday, May 13th. They issued a “neutral” rating and a $18.00 price target for the company. Seaport Res Ptn reiterated a “buy” rating on shares of NOV in a research note on Thursday, July 15th. Finally, COKER & PALMER downgraded shares of NOV from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, May 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.29.
NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, April 27th. The oil and gas exploration company reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). NOV had a negative net margin of 11.18% and a negative return on equity of 5.60%. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same period in the prior year, the company posted ($5.34) earnings per share. The firm’s revenue for the quarter was down 33.7% compared to the same quarter last year. On average, sell-side analysts anticipate that NOV Inc. will post -0.47 earnings per share for the current year.
NOV Inc designs, constructs, manufactures, and sells systems, components, and products for use in oil and gas drilling and production, and industrial and renewable energy sectors worldwide. It operates through three segments: Wellbore Technologies, Completion & Production Solutions, and Rig Technologies.
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