Wealth Enhancement Advisory Services LLC Cuts Stake in NOV Inc. (NYSE:NOV)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 13.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,327 shares of the oil and gas exploration company’s stock after selling 2,304 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NOV were worth $245,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. increased 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 acquiring an additional 839 shares in the last quarter. GAMMA Investing LLC grew its position in NOV by 18.2% during 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 increased its stake in NOV by 3.1% during the 1st quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock valued at $576,000 after purchasing an additional 889 shares in the last quarter. Truist Financial Corp raised its holdings in shares of NOV by 3.4% in the second quarter. Truist Financial Corp now owns 29,729 shares of the oil and gas exploration company’s stock worth $565,000 after buying an additional 991 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of NOV by 2.3% during 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 period. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NOV. Morgan Stanley reduced their target price on NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. BMO Capital Markets dropped their target price on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of NOV in a research report on Monday, July 29th. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $21.00 to $18.00 in a report on Monday. Finally, TD Cowen reduced their target price on shares of NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Two 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 issued a strong buy rating to the stock. According to data from MarketBeat, NOV presently has a consensus rating of “Hold” and a consensus target price of $21.64.

NOV Price Performance

NOV stock opened at $16.53 on Tuesday. The stock has a market capitalization of $6.43 billion, a P/E ratio of 6.10, a P/E/G ratio of 0.93 and a beta of 1.66. The company’s fifty day moving average price is $16.06 and its 200 day moving average price is $17.58. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.075 per share. The ex-dividend date was Friday, September 13th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

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.