Schroder Investment Management Group Lowers Stock Holdings in NOV Inc. (NYSE:NOV)

Schroder Investment Management Group lessened its holdings in shares of NOV Inc. (NYSE:NOV) by 30.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 584,012 shares of the oil and gas exploration company’s stock after selling 257,326 shares during the quarter. Schroder Investment Management Group’s holdings in NOV were worth $8,527,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Signaturefd LLC lifted its stake in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after purchasing an additional 756 shares in the last quarter. 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 worth $220,000 after buying an additional 1,248 shares during the last quarter. UMB Bank n.a. raised its holdings in 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 acquiring an additional 1,612 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in NOV by 10.8% during the 4th 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 acquiring an additional 1,656 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. increased its position in shares of NOV by 3.5% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company’s stock worth $874,000 after purchasing an additional 2,040 shares during the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NOV has been the subject of several research analyst reports. Barclays boosted their price objective on NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, February 18th. Evercore ISI reaffirmed an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a report on Wednesday, January 15th. Raymond James boosted their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Monday, March 24th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $19.60.

NOV Stock Down 10.9 %

Shares of NOV stock opened at $11.92 on Friday. NOV Inc. has a 1 year low of $11.66 and a 1 year high of $21.20. 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. The stock has a 50-day moving average price of $14.91 and a 200 day moving average price of $15.34.

NOV (NYSE:NOV) last posted its quarterly earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (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, analysts expect that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) 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.