NOV Inc. (NYSE:NOV) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its position in NOV Inc. (NYSE:NOV) by 15.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 669,077 shares of the oil and gas exploration company’s stock after buying an additional 87,909 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of NOV worth $10,183,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of NOV. Penserra Capital Management LLC lifted its holdings in shares of NOV by 26.9% during the first quarter. Penserra Capital Management LLC now owns 42,649 shares of the oil and gas exploration company’s stock worth $649,000 after purchasing an additional 9,036 shares during the period. D.A. Davidson & CO. acquired a new stake in shares of NOV in the 1st quarter worth $229,000. Canandaigua National Bank & Trust Co. boosted its holdings in shares of NOV by 2.5% in the first quarter. Canandaigua National Bank & Trust Co. now owns 61,363 shares of the oil and gas exploration company’s stock valued at $934,000 after acquiring an additional 1,468 shares in the last quarter. Canandaigua National Trust Co of Florida increased its stake in shares of NOV by 19.2% during the first quarter. Canandaigua National Trust Co of Florida now owns 36,159 shares of the oil and gas exploration company’s stock worth $550,000 after acquiring an additional 5,819 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in NOV during the first quarter worth about $36,000. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Price Performance

Shares of NYSE:NOV opened at $12.90 on Monday. The firm’s 50 day moving average is $12.93 and its two-hundred day moving average is $13.69. The firm has a market capitalization of $4.85 billion, a P/E ratio of 8.60, a PEG ratio of 3.29 and a beta of 1.28. The company has a current ratio of 2.65, a quick ratio of 1.76 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $21.20.

NOV (NYSE:NOV) last posted 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). NOV had a net margin of 6.68% and a return on equity of 9.11%. The business had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.11 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. Analysts anticipate that NOV Inc. will post 1.4 earnings per share for the current 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 paid 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 payout ratio is 20.00%.

Analysts Set New Price Targets

NOV has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price target 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. dropped their target price on shares of NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company decreased their price target on NOV from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, June 5th. Barclays dropped their price objective on NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a research note on Wednesday, April 30th. Finally, Royal Bank Of Canada decreased their target price on NOV from $20.00 to $19.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.31.

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.