NOV Inc. (NYSE:NOV) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in NOV Inc. (NYSE:NOV) by 78.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,922 shares of the oil and gas exploration company’s stock after selling 51,588 shares during the period. Intech Investment Management LLC’s holdings in NOV were worth $222,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pzena Investment Management LLC lifted its stake in shares of NOV by 22.3% in the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares during the period. Quest Partners LLC acquired a new position in shares of NOV in the third quarter worth about $96,000. KBC Group NV boosted its stake in shares of NOV by 11.8% during the 3rd quarter. KBC Group NV now owns 11,060 shares of the oil and gas exploration company’s stock worth $177,000 after acquiring an additional 1,163 shares in the last quarter. MQS Management LLC acquired a new stake in shares of NOV during the 3rd quarter valued at about $454,000. Finally, Victory Capital Management Inc. increased its stake in shares of NOV by 32.2% in the 3rd quarter. Victory Capital Management Inc. now owns 109,984 shares of the oil and gas exploration company’s stock valued at $1,756,000 after purchasing an additional 26,792 shares in the last quarter. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Price Performance

Shares of NOV stock opened at $15.63 on Friday. 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 company has a market capitalization of $6.08 billion, a PE ratio of 5.85, a price-to-earnings-growth ratio of 0.94 and a beta of 1.66. The firm’s 50-day moving average is $15.97 and its two-hundred day moving average is $17.27. NOV Inc. has a 12 month low of $14.98 and a 12 month high of $21.23.

NOV Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their price target on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley reduced their price target on shares of NOV from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Barclays lowered their price objective on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a report on Tuesday, October 29th. Stifel Nicolaus decreased their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, October 28th. Finally, JPMorgan Chase & Co. reduced their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $21.64.

Insider Transactions at NOV

In related news, Director David D. Harrison sold 1,784 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total transaction of $28,722.40. Following the transaction, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.85% of the company’s stock.

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.