GSA Capital Partners LLP Buys 18,102 Shares of NOV Inc. (NYSE:NOV)

GSA Capital Partners LLP lifted its stake in shares of NOV Inc. (NYSE:NOV) by 63.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,808 shares of the oil and gas exploration company’s stock after acquiring an additional 18,102 shares during the quarter. GSA Capital Partners LLP’s holdings in NOV were worth $748,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Boston Partners bought a new position in NOV during the 1st quarter worth about $119,686,000. Bank of New York Mellon Corp boosted its position in shares of NOV by 67.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock worth $188,749,000 after purchasing an additional 3,989,095 shares in the last quarter. Dimensional Fund Advisors LP grew its position in NOV by 40.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after purchasing an additional 3,470,860 shares during the last quarter. AQR Capital Management LLC increased its stake in NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after purchasing an additional 3,418,885 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after buying an additional 1,574,188 shares during the last quarter. Institutional investors own 93.27% of the company’s stock.

NOV Stock Performance

Shares of NYSE:NOV opened at $15.97 on Monday. The business’s 50 day moving average price is $16.02 and its 200-day moving average price is $17.50. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The firm has a market capitalization of $6.21 billion, a PE ratio of 5.89, a P/E/G ratio of 0.92 and a beta of 1.66.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s payout ratio is 11.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NOV shares. JPMorgan Chase & Co. cut their target price on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Morgan Stanley lowered their price objective on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. BMO Capital Markets cut their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a research report on Monday, July 29th. Finally, Citigroup lowered NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, NOV currently has a consensus rating of “Hold” and a consensus target price of $21.64.

NOV 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.