Wealth Enhancement Advisory Services LLC Raises Stock Position in NOV Inc. $NOV

Wealth Enhancement Advisory Services LLC lifted its position in NOV Inc. (NYSE:NOV) by 99.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,626 shares of the oil and gas exploration company’s stock after purchasing an additional 32,675 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NOV were worth $1,109,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. CoreFirst Bank & Trust purchased a new stake in NOV during the 2nd quarter valued at approximately $35,000. UMB Bank n.a. increased its position in shares of NOV by 114.1% in the third quarter. UMB Bank n.a. now owns 3,109 shares of the oil and gas exploration company’s stock valued at $41,000 after buying an additional 1,657 shares in the last quarter. Fifth Third Bancorp increased its holdings in NOV by 88.4% during the 3rd quarter. Fifth Third Bancorp now owns 5,083 shares of the oil and gas exploration company’s stock valued at $67,000 after acquiring an additional 2,385 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of NOV by 33.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 6,595 shares of the oil and gas exploration company’s stock valued at $82,000 after acquiring an additional 1,658 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of NOV by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,738 shares of the oil and gas exploration company’s stock worth $89,000 after purchasing an additional 1,359 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

NYSE:NOV opened at $18.76 on Monday. The company has a current ratio of 2.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.27. The firm has a market cap of $6.76 billion, a price-to-earnings ratio of 49.36 and a beta of 0.94. NOV Inc. has a twelve month low of $10.84 and a twelve month high of $20.85. The company has a 50-day moving average of $19.14 and a 200-day moving average of $16.57.

NOV (NYSE:NOV) last announced its earnings results on Thursday, February 5th. The oil and gas exploration company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.23). NOV had a return on equity of 3.57% and a net margin of 1.66%.The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business earned $0.41 earnings per share. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. Analysts forecast that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 27th. Shareholders of record on Friday, March 13th were given a $0.09 dividend. This is a positive change from NOV’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, March 13th. NOV’s payout ratio is presently 94.74%.

Insider Buying and Selling at NOV

In other NOV news, VP Craig L. Weinstock sold 70,000 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $20.08, for a total transaction of $1,405,600.00. Following the completion of the transaction, the vice president owned 256,319 shares of the company’s stock, valued at $5,146,885.52. The trade was a 21.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph W. Rovig sold 151,086 shares of the stock in a transaction that occurred on Monday, February 23rd. The shares were sold at an average price of $20.17, for a total value of $3,047,404.62. Following the sale, the insider owned 269,694 shares of the company’s stock, valued at approximately $5,439,727.98. The trade was a 35.91% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 2.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NOV. Weiss Ratings reissued a “hold (c)” rating on shares of NOV in a research note on Friday, March 27th. The Goldman Sachs Group increased their price target on NOV from $17.00 to $20.00 and gave the company a “sell” rating in a report on Wednesday, March 4th. Stifel Nicolaus boosted their target price on shares of NOV from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Barclays upgraded NOV from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $15.00 to $20.00 in a research note on Wednesday, February 4th. Finally, Piper Sandler increased their price objective on shares of NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $18.57.

NOV Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.