Belmont Capital LLC Sells 50,418 Shares of NOV Inc. (NYSE:NOV)

Belmont Capital LLC lessened its position in NOV Inc. (NYSE:NOV - Free Report) by 15.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 280,191 shares of the oil and gas exploration company's stock after selling 50,418 shares during the period. NOV makes up about 0.7% of Belmont Capital LLC's investment portfolio, making the stock its 18th biggest holding. Belmont Capital LLC owned about 0.07% of NOV worth $4,091,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NOV. Huntington National Bank increased its holdings in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock worth $32,000 after purchasing an additional 1,034 shares in the last quarter. Covestor Ltd lifted its stake in NOV by 282.9% in the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company's stock valued at $33,000 after acquiring an additional 1,655 shares in the last quarter. UMB Bank n.a. boosted its position in NOV by 222.3% during the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock worth $34,000 after acquiring an additional 1,612 shares during the last quarter. Signaturefd LLC grew its stake in shares of NOV by 41.3% during the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock worth $38,000 after acquiring an additional 756 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of NOV in the fourth quarter valued at approximately $42,000. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Price Performance

Shares of NOV stock traded down $0.08 during midday trading on Wednesday, hitting $12.08. 1,726,032 shares of the company traded hands, compared to its average volume of 3,877,496. The firm's fifty day moving average price is $14.02 and its 200-day moving average price is $14.92. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 1.02 and a beta of 1.35. NOV Inc. has a 12 month low of $10.84 and a 12 month high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. As a group, sell-side analysts forecast that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.48%. NOV's dividend payout ratio is 18.63%.

Analyst Ratings Changes

A number of research analysts recently weighed in on NOV shares. Stifel Nicolaus decreased their target price on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Susquehanna dropped their price objective on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada upgraded shares of NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price target for the company in a research note on Monday, March 24th. The Goldman Sachs Group dropped their price objective on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Finally, Seaport Res Ptn cut NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, NOV currently has an average rating of "Hold" and a consensus target price of $19.00.

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.