Schonfeld Strategic Advisors LLC Lowers Position in NOV Inc. (NYSE:NOV)

Schonfeld Strategic Advisors LLC reduced its position in shares of NOV Inc. (NYSE:NOV) by 59.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 70,700 shares of the oil and gas exploration company’s stock after selling 102,776 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in NOV were worth $1,032,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its holdings in shares of NOV by 10.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 581,446 shares of the oil and gas exploration company’s stock valued at $8,489,000 after buying an additional 56,665 shares during the period. Greenhaven Associates Inc. lifted its holdings in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock valued at $48,049,000 after acquiring an additional 1,255,666 shares during the period. Barclays PLC grew 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 purchasing an additional 258,392 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of 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 valued at $271,000 after purchasing an additional 1,656 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of NOV by 5.6% in the fourth 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 purchasing an additional 20,952 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Raymond James increased their target price on shares of NOV from $18.00 to $19.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. The Goldman Sachs Group reduced their price objective on NOV from $16.00 to $13.00 and set a “sell” rating for the company in a report on Thursday, April 10th. JPMorgan Chase & Co. dropped their price target on NOV from $20.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, April 30th. Evercore ISI reaffirmed an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company increased their price objective on shares of NOV from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Thursday, May 1st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $18.00.

NOV Price Performance

NOV stock opened at $11.84 on Thursday. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 7.35, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27. 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. The stock’s fifty day simple moving average is $13.32 and its 200-day simple moving average is $14.62.

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 during 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 firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.30 earnings per share. Equities research analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a $0.075 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.30 dividend on an annualized basis and a yield of 2.53%. NOV’s payout ratio is 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.