Ariel Investments LLC Has $33.50 Million Holdings in NOV Inc. (NYSE:NOV)

Ariel Investments LLC cut its position in shares of NOV Inc. (NYSE:NOV - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,294,639 shares of the oil and gas exploration company's stock after selling 159,777 shares during the quarter. Ariel Investments LLC owned 0.59% of NOV worth $33,502,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of NOV by 120.1% during the 3rd quarter. Barclays PLC now owns 473,545 shares of the oil and gas exploration company's stock worth $7,561,000 after acquiring an additional 258,392 shares in the last quarter. Tidal Investments LLC increased its stake in shares of NOV by 20.8% in the 3rd quarter. Tidal Investments LLC now owns 21,200 shares of the oil and gas exploration company's stock valued at $339,000 after buying an additional 3,645 shares during the period. Nordea Investment Management AB bought a new position in shares of NOV in the 4th quarter worth $2,514,000. Canandaigua National Bank & Trust Co. raised its stake in NOV by 3.5% during the 4th quarter. Canandaigua National Bank & Trust Co. now owns 59,895 shares of the oil and gas exploration company's stock worth $874,000 after buying an additional 2,040 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its holdings 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 purchasing an additional 1,656 shares in the last quarter. Institutional investors and hedge funds own 93.27% of the company's stock.

NOV Trading Up 0.1 %

NYSE:NOV traded up $0.01 on Tuesday, hitting $11.90. 3,619,125 shares of the stock were exchanged, compared to its average volume of 3,916,294. The stock has a fifty day moving average of $13.44 and a 200-day moving average of $14.66. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.26. The stock has a market cap of $4.47 billion, a PE ratio of 7.39, a PEG ratio of 1.02 and a beta of 1.27. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20.

NOV (NYSE:NOV - Get Free Report) last posted 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 the consensus estimate of $0.25 by ($0.06). The company had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.11 billion. NOV had a net margin of 7.16% and a return on equity of 9.88%. NOV's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.30 EPS. As a group, equities analysts expect that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, March 14th. NOV's dividend payout ratio is currently 20.00%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NOV. The Goldman Sachs Group cut their price objective on shares of NOV from $16.00 to $13.00 and set a "sell" rating for the company in a research report on Thursday, April 10th. Raymond James lifted their price objective on shares of NOV from $18.00 to $19.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Royal Bank of Canada cut their target price on NOV from $20.00 to $19.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 30th. Barclays cut their target price on shares of NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Finally, Stifel Nicolaus reduced their price target on shares of NOV from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Tuesday, April 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 company's stock. According to MarketBeat.com, NOV currently has a consensus rating of "Hold" and a consensus target price of $18.00.

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.