Orion Portfolio Solutions LLC Sells 4,198 Shares of NOV Inc. (NYSE:NOV)

Orion Portfolio Solutions LLC lessened its stake in shares of NOV Inc. (NYSE:NOV) by 13.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 26,036 shares of the oil and gas exploration company’s stock after selling 4,198 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in NOV were worth $416,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in NOV during the second quarter worth approximately $28,000. Quarry LP acquired a new stake in NOV during the 3rd quarter worth approximately $36,000. American National Bank & Trust acquired a new stake in NOV during the 3rd quarter worth approximately $39,000. International Assets Investment Management LLC boosted its stake in NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 2,735 shares during the period. Finally, Brooklyn Investment Group acquired a new position in NOV in the 3rd quarter valued at $48,000. Institutional investors own 93.27% of the company’s stock.

NOV Price Performance

Shares of NYSE:NOV opened at $14.19 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a 52 week low of $14.09 and a 52 week high of $21.23. The firm has a market cap of $5.52 billion, a PE ratio of 5.24, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The firm’s fifty day moving average is $15.74 and its 200-day moving average is $17.02.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.11%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Insider Activity

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NOV. Atb Cap Markets cut shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Morgan Stanley dropped 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. Susquehanna reduced their price target on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. TD Cowen dropped their price objective on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a report on Monday, October 28th. Finally, BMO Capital Markets cut their target price on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.36.

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.