Wealth Enhancement Advisory Services LLC Increases Holdings in NOV Inc. (NYSE:NOV)

Wealth Enhancement Advisory Services LLC increased its stake in shares of NOV Inc. (NYSE:NOV - Free Report) by 126.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,726 shares of the oil and gas exploration company's stock after purchasing an additional 19,399 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in NOV were worth $507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NOV. Huntington National Bank raised its position 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 purchasing an additional 1,034 shares during the last quarter. Covestor Ltd raised its position in shares of NOV by 282.9% during the fourth 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 lifted 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 period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in NOV in the fourth quarter valued at approximately $42,000. Finally, CoreFirst Bank & Trust acquired a new stake in NOV during the 4th quarter valued at approximately $41,000. Institutional investors own 93.27% of the company's stock.

NOV Stock Up 0.5%

NOV stock traded up $0.07 during mid-day trading on Monday, reaching $13.73. 2,918,014 shares of the company traded hands, compared to its average volume of 4,005,861. The company has a quick ratio of 1.64, a current ratio of 2.46 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average price is $12.37 and its 200 day moving average price is $13.98. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 8.55, a P/E/G ratio of 1.02 and a beta of 1.28. 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 announced 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 for the quarter, compared to the consensus estimate of $2.11 billion. NOV had a return on equity of 9.88% and a net margin of 7.16%. The company's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. As a group, equities research analysts predict that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

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

Wall Street Analysts Forecast Growth

NOV has been the subject of several recent analyst reports. 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 research report on Wednesday, April 30th. Barclays decreased their price target on NOV from $13.00 to $11.00 and set an "underweight" rating for the company in a report on Wednesday, April 30th. Morgan Stanley dropped their price objective on NOV from $18.00 to $15.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Susquehanna decreased their target price on NOV from $21.00 to $19.00 and set a "positive" rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. dropped their price target on NOV from $20.00 to $17.00 and set an "overweight" rating on the stock in a research note 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $17.44.

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.