Wealth Enhancement Advisory Services LLC Buys 21,813 Shares of NOV Inc. (NYSE:NOV)

Wealth Enhancement Advisory Services LLC boosted its stake in shares of NOV Inc. (NYSE:NOV) by 62.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,539 shares of the oil and gas exploration company’s stock after acquiring an additional 21,813 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in NOV were worth $861,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in NOV by 88.7% during the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company’s stock worth $32,000 after acquiring an additional 1,034 shares during the last quarter. Covestor Ltd grew its holdings in NOV by 282.9% during the 4th quarter. Covestor Ltd now owns 2,240 shares of the oil and gas exploration company’s stock worth $33,000 after acquiring an additional 1,655 shares during the last quarter. Signaturefd LLC grew its holdings in NOV by 41.3% during the 4th 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. CoreFirst Bank & Trust bought a new position in shares of NOV in the 4th quarter valued at about $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV in the 4th quarter valued at about $42,000. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV stock opened at $13.19 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.76 and a current ratio of 2.65. The company has a market capitalization of $4.96 billion, a P/E ratio of 8.79, a price-to-earnings-growth ratio of 3.22 and a beta of 1.28. The company’s 50 day moving average price is $12.66 and its two-hundred day moving average price is $13.80. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20.

NOV (NYSE:NOV) last announced its earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 9.11% and a net margin of 6.68%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $0.30 earnings per share. On average, analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Announces Dividend

The business also recently announced a dividend, which was paid on Friday, June 13th. Shareholders of record on Tuesday, June 3rd were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a yield of 3.63%. NOV’s dividend payout ratio (DPR) is currently 20.00%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on NOV shares. Morgan Stanley reduced their target price on shares of NOV from $18.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. JPMorgan Chase & Co. reduced their target price on shares of NOV from $20.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Royal Bank Of Canada reduced their target price on shares of NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 30th. Stifel Nicolaus reduced their target price on shares of NOV from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company reduced their target price on shares of NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, June 5th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.38.

About NOV

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.