Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in NOV Inc. (NYSE:NOV)

Envestnet Portfolio Solutions Inc. decreased its holdings in NOV Inc. (NYSE:NOV) by 13.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 16,301 shares of the oil and gas exploration company’s stock after selling 2,547 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NOV were worth $238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in shares of NOV by 10.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock worth $8,489,000 after buying an additional 56,665 shares during the last quarter. Greenhaven Associates Inc. boosted its holdings in 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 buying an additional 1,255,666 shares in the last quarter. Barclays PLC raised its holdings in NOV by 120.1% during the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock worth $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Bank of Montreal Can boosted its position in shares of NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after buying an additional 367,308 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of NOV in the third quarter valued at about $35,709,000. Hedge funds and other institutional investors own 93.27% of the company’s stock.

NOV Trading Down 2.1 %

Shares of NYSE:NOV opened at $14.96 on Friday. NOV Inc. has a twelve month low of $13.78 and a twelve month high of $21.20. The firm has a market cap of $5.70 billion, a P/E ratio of 9.29, a P/E/G ratio of 1.02 and a beta of 1.66. The company has a 50 day moving average of $15.00 and a 200-day moving average of $15.40. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. As a group, analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Barclays lifted their price objective on NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 18th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Raymond James lifted their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Evercore ISI restated an “in-line” rating and issued a $18.00 price target (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Finally, Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $19.60.

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.