Wells Fargo & Company MN Sells 83,459 Shares of NOV Inc. (NYSE:NOV)

Wells Fargo & Company MN lessened its position in NOV Inc. (NYSE:NOV) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 720,327 shares of the oil and gas exploration company’s stock after selling 83,459 shares during the quarter. Wells Fargo & Company MN owned approximately 0.19% of NOV worth $10,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NOV. Signaturefd LLC grew its stake in shares of NOV by 41.3% in the fourth 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 during the last quarter. Huntington National Bank boosted its holdings in shares of NOV by 88.7% in the fourth quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after buying an additional 1,034 shares during the last quarter. Verum Partners LLC grew its position in shares of NOV by 9.0% during the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company’s stock valued at $220,000 after acquiring an additional 1,248 shares during the period. UMB Bank n.a. increased its position 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 worth $34,000 after buying an additional 1,612 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised 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 worth $271,000 after acquiring an additional 1,656 shares during the period. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NOV opened at $12.08 on Thursday. The firm has a 50-day simple moving average of $14.32 and a 200-day simple moving average of $15.03. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The company has a market capitalization of $4.60 billion, a price-to-earnings ratio of 7.50, a price-to-earnings-growth ratio of 1.02 and a beta of 1.35. 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) last released its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share (EPS) for the quarter, topping 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%. On average, equities research analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.075 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.48%. NOV’s dividend payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NOV shares. The Goldman Sachs Group lowered their price target on NOV from $16.00 to $13.00 and set a “sell” rating on the stock in a report on Thursday, April 10th. Stifel Nicolaus reduced 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. Raymond James raised their target price on shares of NOV from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Seaport Res Ptn cut NOV from a “strong-buy” rating to a “hold” rating in a report on Sunday, January 5th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target 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.