Cerity Partners LLC Boosts Stock Position in NOV Inc. (NYSE:NOV)

Cerity Partners LLC raised its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 101.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 129,610 shares of the oil and gas exploration company's stock after acquiring an additional 65,370 shares during the period. Cerity Partners LLC's holdings in NOV were worth $1,906,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. lifted its holdings in NOV by 12,344.0% during the fourth 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 during the period. First Pacific Advisors LP purchased a new stake in shares of NOV during the 4th quarter valued at $39,495,000. Greenhaven Associates Inc. raised its stake in shares of NOV by 61.7% during the 4th 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 during the period. Van ECK Associates Corp boosted its holdings in shares of NOV by 22.1% in the 4th quarter. Van ECK Associates Corp now owns 5,182,044 shares of the oil and gas exploration company's stock worth $75,658,000 after buying an additional 938,866 shares during the last quarter. Finally, National Bank of Canada FI bought a new position in NOV during the fourth quarter valued at about $10,678,000. Institutional investors own 93.27% of the company's stock.

NOV Price Performance

NYSE:NOV traded down $0.13 during trading hours on Tuesday, hitting $12.16. 3,258,677 shares of the company's stock traded hands, compared to its average volume of 3,885,751. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20. The business's fifty day simple moving average is $14.02 and its two-hundred day simple moving average is $14.92. 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 $4.60 billion, a P/E ratio of 7.55, a P/E/G ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. On average, research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend was Friday, March 14th. NOV's payout ratio is 18.63%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Susquehanna lowered their price objective on shares of NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Stifel Nicolaus dropped their price objective on NOV from $25.00 to $23.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Seaport Res Ptn lowered NOV from a "strong-buy" rating to a "hold" rating in a report on Sunday, January 5th. Barclays upped their price target on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada upgraded NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price objective on the stock in a research note on Monday, March 24th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, NOV presently has a consensus 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.