T. Rowe Price Investment Management Inc. Has $21 Million Stock Position in NOV Inc. (NYSE:NOV)

T. Rowe Price Investment Management Inc. cut its holdings in shares of NOV Inc. (NYSE:NOV - Free Report) by 3.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,438,206 shares of the oil and gas exploration company's stock after selling 46,854 shares during the period. T. Rowe Price Investment Management Inc. owned about 0.37% of NOV worth $20,998,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Mariner LLC grew its position in NOV by 2.9% during the 4th quarter. Mariner LLC now owns 24,201 shares of the oil and gas exploration company's stock worth $353,000 after acquiring an additional 672 shares during the last quarter. Signaturefd LLC boosted its position in NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company's stock valued at $38,000 after buying an additional 756 shares during the last quarter. Huntington National Bank boosted its position in NOV by 88.7% in the 4th quarter. Huntington National Bank now owns 2,200 shares of the oil and gas exploration company's stock valued at $32,000 after buying an additional 1,034 shares during the last quarter. Verum Partners LLC boosted its position in NOV by 9.0% in the 4th quarter. Verum Partners LLC now owns 15,050 shares of the oil and gas exploration company's stock valued at $220,000 after buying an additional 1,248 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in NOV by 222.3% in the 4th quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company's stock valued at $34,000 after buying an additional 1,612 shares during the last quarter. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Down 2.2 %

Shares of NOV traded down $0.27 on Tuesday, hitting $11.97. The company's stock had a trading volume of 8,034,407 shares, compared to its average volume of 3,877,138. 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 fifty day moving average price is $13.69 and its 200-day moving average price is $14.78. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $21.20. The firm has a market capitalization of $4.53 billion, a price-to-earnings ratio of 7.43, a P/E/G ratio of 1.02 and a beta of 1.35.

NOV (NYSE:NOV - Get Free Report) last released its quarterly earnings results on Monday, April 28th. The oil and gas exploration company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). NOV had a return on equity of 9.88% and a net margin of 7.16%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the company earned $0.30 EPS. The company's revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Friday, March 14th. NOV's dividend payout ratio (DPR) is currently 18.63%.

Analyst Ratings Changes

A number of brokerages have commented on NOV. Evercore ISI reiterated an "in-line" rating and issued a $18.00 price objective (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their price target on NOV from $16.00 to $13.00 and set a "sell" rating on the stock in a research note on Thursday, April 10th. Susquehanna cut their price target on NOV from $21.00 to $19.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank of Canada raised NOV from a "sector perform" rating to an "outperform" rating and set a $22.00 price target on the stock in a research note on Monday, March 24th. Finally, Barclays increased their price target on NOV from $12.00 to $13.00 and gave the company an "underweight" rating in a research note on Tuesday, February 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, NOV has an average rating of "Hold" and a consensus target price of $19.00.

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.