Wealth Enhancement Advisory Services LLC Decreases Holdings in NOV Inc. (NYSE:NOV)

Wealth Enhancement Advisory Services LLC decreased its holdings in NOV Inc. (NYSE:NOV) by 13.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,327 shares of the oil and gas exploration company’s stock after selling 2,304 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in NOV were worth $245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Mather Group LLC. lifted its holdings in shares of NOV by 17.2% during the second quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock valued at $111,000 after purchasing an additional 839 shares during the last quarter. GAMMA Investing LLC raised its position in shares of NOV by 18.2% in the 2nd quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock worth $104,000 after purchasing an additional 848 shares during the last quarter. Quadrature Capital Ltd boosted its stake in NOV by 3.1% in the 1st quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock worth $576,000 after purchasing an additional 889 shares in the last quarter. Truist Financial Corp grew its position in NOV by 3.4% during the 2nd quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock valued at $565,000 after purchasing an additional 991 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in NOV by 2.3% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 51,567 shares of the oil and gas exploration company’s stock worth $980,000 after buying an additional 1,164 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Up 1.5 %

Shares of NOV opened at $16.53 on Tuesday. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23. The company has a market cap of $6.43 billion, a PE ratio of 6.10, a P/E/G ratio of 0.93 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $16.06 and a 200 day moving average of $17.58.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Friday, September 13th. NOV’s dividend payout ratio is 11.07%.

Analyst Upgrades and Downgrades

NOV has been the topic of several research reports. Evercore ISI upgraded shares of NOV to a “strong-buy” rating in a report on Friday, July 26th. Stifel Nicolaus reduced their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. BMO Capital Markets cut their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Benchmark reiterated a “hold” rating on shares of NOV in a research note on Friday, July 26th. Finally, Bank of America cut their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.64.

NOV Company 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.