Sherbrooke Park Advisers LLC Has $1.03 Million Stock Holdings in NOV Inc. (NYSE:NOV)

Sherbrooke Park Advisers LLC trimmed its stake in shares of NOV Inc. (NYSE:NOV) by 18.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 70,594 shares of the oil and gas exploration company’s stock after selling 16,279 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in NOV were worth $1,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Greenhaven Associates Inc. raised its holdings in NOV by 61.7% during the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares during the last quarter. Barclays PLC raised its holdings in shares of NOV by 120.1% in the third quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company’s stock valued at $7,561,000 after purchasing an additional 258,392 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in NOV by 10.8% in 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 purchasing an additional 1,656 shares in the last quarter. SG Americas Securities LLC increased its stake in NOV by 5.6% in the 4th quarter. SG Americas Securities LLC now owns 397,149 shares of the oil and gas exploration company’s stock valued at $5,798,000 after buying an additional 20,952 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of NOV during the 4th quarter worth approximately $6,330,000. 93.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of NOV from $20.00 to $19.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Stifel Nicolaus reduced their price objective on NOV from $25.00 to $23.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Raymond James increased their price objective on NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Barclays reduced their price objective on NOV from $13.00 to $11.00 and set an “underweight” rating for the company in a report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. reduced their price objective on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $18.00.

NOV Stock Performance

Shares of NOV stock opened at $12.88 on Friday. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 1.02 and a beta of 1.27. The company’s 50 day moving average is $13.12 and its 200 day moving average is $14.52. The company has a quick ratio of 1.64, a current ratio of 2.46 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 issued its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, sell-side analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio (DPR) is presently 20.00%.

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.