NOV Inc. (NYSE:NOV) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its holdings in NOV Inc. (NYSE:NOV) by 135.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,113 shares of the oil and gas exploration company’s stock after buying an additional 19,079 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in NOV were worth $672,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NOV. CENTRAL TRUST Co lifted its position in NOV by 85.4% in the third quarter. CENTRAL TRUST Co now owns 1,259 shares of the oil and gas exploration company’s stock valued at $26,000 after acquiring an additional 580 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of NOV by 1.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 50,280 shares of the oil and gas exploration company’s stock worth $1,020,000 after purchasing an additional 580 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of NOV by 3.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,956 shares of the oil and gas exploration company’s stock valued at $306,000 after purchasing an additional 598 shares during the last quarter. Covestor Ltd boosted its position in shares of NOV by 94.4% in the 1st quarter. Covestor Ltd now owns 1,287 shares of the oil and gas exploration company’s stock valued at $25,000 after purchasing an additional 625 shares during the period. Finally, Kestra Advisory Services LLC increased its position in NOV by 3.2% during the second quarter. Kestra Advisory Services LLC now owns 21,269 shares of the oil and gas exploration company’s stock worth $341,000 after buying an additional 653 shares during the period. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE NOV opened at $19.17 on Tuesday. The company’s fifty day moving average is $18.34 and its two-hundred day moving average is $19.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.51 and a current ratio of 2.40. The firm has a market capitalization of $7.58 billion, a P/E ratio of 7.64, a PEG ratio of 0.37 and a beta of 1.74. NOV Inc. has a one year low of $14.05 and a one year high of $21.91.

NOV (NYSE:NOV) last released its quarterly earnings data on Friday, February 2nd. The oil and gas exploration company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $1.10. NOV had a net margin of 11.57% and a return on equity of 10.79%. The firm had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. Analysts forecast that NOV Inc. will post 1.54 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, March 13th. NOV’s payout ratio is currently 7.97%.

Insider Buying and Selling

In other news, CAO Christy Lynn Novak sold 3,500 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $17.43, for a total value of $61,005.00. Following the completion of the transaction, the chief accounting officer now owns 114,212 shares in the company, valued at $1,990,715.16. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.85% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NOV. StockNews.com upgraded shares of NOV from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Raymond James reduced their target price on shares of NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a report on Monday, February 5th. Benchmark lowered NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Susquehanna reaffirmed a “positive” rating and set a $26.00 price objective on shares of NOV in a research note on Monday, April 8th. Finally, TD Cowen dropped their target price on NOV from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, February 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, NOV currently has a consensus rating of “Hold” and an average price target of $24.36.

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.