Sequoia Financial Advisors LLC Has $672,000 Stock Holdings in NOV Inc. (NYSE:NOV)

Sequoia Financial Advisors LLC increased its holdings in NOV Inc. (NYSE:NOV) by 135.9% in the 4th quarter, Holdings Channel reports. The fund owned 33,113 shares of the oil and gas exploration company’s stock after purchasing an additional 19,079 shares during the period. Sequoia Financial Advisors LLC’s holdings in NOV were worth $672,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of NOV by 16.6% during the first quarter. JPMorgan Chase & Co. now owns 762,999 shares of the oil and gas exploration company’s stock worth $14,961,000 after purchasing an additional 108,845 shares during the period. Raymond James & Associates boosted its stake in shares of NOV by 15.4% during the 1st quarter. Raymond James & Associates now owns 175,860 shares of the oil and gas exploration company’s stock valued at $3,449,000 after buying an additional 23,430 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in shares of NOV by 8.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 13,935 shares of the oil and gas exploration company’s stock valued at $273,000 after acquiring an additional 1,079 shares in the last quarter. US Bancorp DE increased its stake in shares of NOV by 2.0% in the first quarter. US Bancorp DE now owns 39,557 shares of the oil and gas exploration company’s stock worth $777,000 after acquiring an additional 788 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in shares of NOV by 7.8% during the first quarter. HighTower Advisors LLC now owns 40,976 shares of the oil and gas exploration company’s stock worth $801,000 after acquiring an additional 2,962 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

NOV Stock Performance

NYSE:NOV opened at $19.17 on Tuesday. The firm has a market capitalization of $7.58 billion, a PE ratio of 7.64, a PEG ratio of 0.37 and a beta of 1.74. NOV Inc. has a 1 year low of $14.05 and a 1 year high of $21.91. The company has a current ratio of 2.40, a quick ratio of 1.51 and a debt-to-equity ratio of 0.27. The firm’s fifty day simple moving average is $18.34 and its 200 day simple moving average is $19.22.

NOV (NYSE:NOV) last issued its quarterly earnings results on Friday, February 2nd. The oil and gas exploration company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $1.10. NOV had a return on equity of 10.79% and a net margin of 11.57%. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the business posted $0.26 earnings per share. The firm’s revenue was up 13.0% compared to the same quarter last year. On average, sell-side analysts anticipate that NOV Inc. will post 1.54 EPS for the current year.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.04%. NOV’s dividend payout ratio (DPR) is presently 7.97%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOV. Stifel Nicolaus lowered their target price on NOV from $28.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. Raymond James lowered their price target on NOV from $28.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, February 5th. Susquehanna reaffirmed a “positive” rating and set a $26.00 price objective on shares of NOV in a research report on Monday, April 8th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of NOV in a research report on Tuesday, February 6th. Finally, Benchmark downgraded shares of NOV from a “buy” rating to a “hold” rating in a report on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.36.

Insider Activity

In related news, CAO Christy Lynn Novak sold 3,500 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $17.43, for a total transaction of $61,005.00. Following the transaction, the chief accounting officer now owns 114,212 shares of the company’s stock, valued at $1,990,715.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is owned by company insiders.

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.