Sei Investments Co. Has $7.61 Million Position in NOV Inc. (NYSE:NOV)

Sei Investments Co. lowered its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 19.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 520,947 shares of the oil and gas exploration company's stock after selling 122,776 shares during the quarter. Sei Investments Co. owned approximately 0.13% of NOV worth $7,606,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its holdings in shares of NOV by 41.3% during the fourth quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after acquiring an additional 756 shares during the period. Verum Partners LLC increased its stake in shares of NOV by 9.0% in the fourth quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock valued at $220,000 after purchasing an additional 1,248 shares during the period. UMB Bank n.a. increased its stake in shares of NOV by 222.3% in the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after purchasing an additional 1,612 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in shares of NOV by 10.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 16,983 shares of the oil and gas exploration company's stock valued at $271,000 after buying an additional 1,656 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. boosted its position in shares of NOV by 3.5% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company's stock worth $874,000 after buying an additional 2,040 shares during the period. 93.27% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently commented on NOV. Piper Sandler raised their target price on NOV from $17.00 to $18.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Evercore ISI restated an "in-line" rating and set a $18.00 price objective (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. ATB Capital reaffirmed a "sector perform" rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Seaport Res Ptn cut shares of NOV from a "strong-buy" rating to a "hold" rating in a research note on Sunday, January 5th. Finally, Royal Bank of Canada raised 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. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, NOV presently has an average rating of "Hold" and an average price target of $19.60.

NOV Trading Down 10.9 %

NOV stock traded down $1.46 during mid-day trading on Friday, reaching $11.92. 7,554,328 shares of the stock traded hands, compared to its average volume of 3,784,651. NOV Inc. has a 52-week low of $11.66 and a 52-week high of $21.20. The stock's fifty day moving average is $14.91 and its 200-day moving average is $15.33. The company has a market cap of $4.54 billion, a P/E ratio of 7.40, a P/E/G ratio of 1.02 and a beta of 1.34. 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 - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS 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, sell-side analysts expect that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. The ex-dividend date was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.52%. NOV's payout ratio is presently 18.63%.

NOV 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.