Sei Investments Co. Sells 122,776 Shares of NOV Inc. (NYSE:NOV)

Sei Investments Co. decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 19.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 520,947 shares of the oil and gas exploration company’s stock after selling 122,776 shares during the period. Sei Investments Co. owned 0.13% of NOV worth $7,606,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Quarry LP bought a new position in shares of NOV during the 3rd quarter worth approximately $36,000. UMB Bank n.a. boosted its stake in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock worth $34,000 after acquiring an additional 1,612 shares in the last quarter. Signaturefd LLC grew its holdings in 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 purchasing 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 $42,000. Finally, R Squared Ltd acquired a new position in shares of NOV during the fourth quarter valued at about $44,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NOV opened at $15.26 on Tuesday. NOV Inc. has a 1 year low of $13.78 and a 1 year high of $21.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.46 and a quick ratio of 1.64. The stock’s fifty day moving average price is $14.99 and its two-hundred day moving average price is $15.38. The firm has a market cap of $5.81 billion, a PE ratio of 9.48, a PEG ratio of 1.02 and a beta of 1.66.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. On average, equities research analysts forecast that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s payout ratio is currently 18.63%.

Wall Street Analyst Weigh In

NOV has been the subject of several research reports. ATB Capital restated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a research note on Tuesday, December 10th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Royal Bank of Canada upgraded NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price on the stock in a report on Monday, March 24th. Raymond James boosted their price target on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Atb Cap Markets lowered shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $19.60.

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.