Sei Investments Co. Has $29.46 Million Holdings in NOV Inc. $NOV

Sei Investments Co. lifted its holdings in NOV Inc. (NYSE:NOV) by 50.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,566,087 shares of the oil and gas exploration company’s stock after purchasing an additional 527,220 shares during the quarter. Sei Investments Co.’s holdings in NOV were worth $29,458,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new stake in NOV in the 4th quarter valued at $28,000. Root Financial Partners LLC boosted its stake in shares of NOV by 39.9% during the 1st quarter. Root Financial Partners LLC now owns 1,937 shares of the oil and gas exploration company’s stock worth $36,000 after buying an additional 552 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of NOV by 659.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,278 shares of the oil and gas exploration company’s stock valued at $36,000 after acquiring an additional 1,978 shares in the last quarter. Rothschild Investment LLC grew its holdings in shares of NOV by 50.1% in the 4th quarter. Rothschild Investment LLC now owns 2,337 shares of the oil and gas exploration company’s stock valued at $37,000 after acquiring an additional 780 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of NOV by 37.9% in the fourth quarter. Allworth Financial LP now owns 2,578 shares of the oil and gas exploration company’s stock valued at $40,000 after acquiring an additional 709 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Down 1.3%

NOV stock opened at $20.48 on Tuesday. The stock has a 50-day simple moving average of $19.73 and a 200 day simple moving average of $19.37. The stock has a market capitalization of $7.35 billion, a P/E ratio of 85.34 and a beta of 0.91. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.66 and a current ratio of 2.47. NOV Inc. has a 52 week low of $11.77 and a 52 week high of $21.55.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, April 28th. The oil and gas exploration company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.12). NOV had a net margin of 1.05% and a return on equity of 3.34%. The business had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the prior year, the company earned $0.19 EPS. NOV’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts expect that NOV Inc. will post 0.9 earnings per share for the current year.

NOV Announces Dividend

The firm also recently declared a special dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a $0.09 dividend. This represents a yield of 170.0%. The ex-dividend date was Friday, June 12th. NOV’s dividend payout ratio is 150.00%.

Wall Street Analyst Weigh In

NOV has been the subject of several recent research reports. Capital One Financial raised NOV from an “equal weight” rating to an “overweight” rating and set a $26.00 price target for the company in a research report on Thursday, June 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of NOV in a research report on Wednesday, June 24th. Citigroup increased their price objective on NOV from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. The Goldman Sachs Group set a $19.00 target price on shares of NOV in a research note on Wednesday, June 3rd. Finally, Evercore upgraded shares of NOV to a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $20.50.

NOV Company Profile

National Oilwell Varco (NYSE: NOV) is a leading provider of equipment and technology to the oil and gas industry. The company designs, manufactures and services an extensive portfolio of products used in drilling, completion and production operations. Its offerings include drilling rigs and related components, wellbore technologies such as tubulars and completion tools, surface equipment including mud pumps and blowout preventers, and aftermarket parts and services that support ongoing field operations.

NOV’s business is organized to serve upstream energy companies around the world.