Envestnet Portfolio Solutions Inc. Sells 2,547 Shares of NOV Inc. (NYSE:NOV)

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 13.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,301 shares of the oil and gas exploration company’s stock after selling 2,547 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in NOV were worth $238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC boosted its stake in NOV by 23.1% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after purchasing an additional 6,963,660 shares during the last quarter. Pacer Advisors Inc. increased its holdings in NOV by 12,344.0% in the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of NOV by 22.1% during the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company’s stock valued at $75,658,000 after buying an additional 938,866 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NOV by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,019,765 shares of the oil and gas exploration company’s stock valued at $44,089,000 after buying an additional 91,800 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on NOV. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Barclays upped their target price on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. ATB Capital reiterated a “sector perform” rating and issued a $19.00 price target on shares of NOV in a report on Tuesday, December 10th. Royal Bank of Canada raised shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price target on the stock in a report on Monday, March 24th. Finally, Raymond James upped their price target on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $19.60.

NOV Stock Down 2.1 %

Shares of NYSE NOV opened at $14.96 on Friday. NOV Inc. has a 52-week low of $13.78 and a 52-week high of $21.20. The company’s 50-day simple moving average is $15.00 and its 200-day simple moving average is $15.40. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) 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 the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a yield of 2.01%. NOV’s payout ratio is 18.63%.

About NOV

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.