Park Avenue Securities LLC Sells 1,027 Shares of NOV Inc. (NYSE:NOV)

Park Avenue Securities LLC cut its holdings in shares of NOV Inc. (NYSE:NOVFree Report) by 6.4% in the 4th quarter, HoldingsChannel reports. The fund owned 15,037 shares of the oil and gas exploration company’s stock after selling 1,027 shares during the period. Park Avenue Securities LLC’s holdings in NOV were worth $220,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NOV. Quarry LP bought a new stake in NOV during the 3rd quarter worth approximately $36,000. American National Bank & Trust bought a new stake in NOV during the third quarter worth $39,000. International Assets Investment Management LLC raised its position 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 buying an additional 2,735 shares during the last quarter. Brooklyn Investment Group bought a new position in NOV during the 3rd quarter valued at $48,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in NOV during the 2nd quarter worth $78,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity at NOV

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares in the company, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.85% of the stock is owned by company insiders.

NOV Price Performance

Shares of NYSE:NOV opened at $14.87 on Monday. The firm has a market capitalization of $5.78 billion, a PE ratio of 5.49, a P/E/G ratio of 0.95 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $15.16 and a two-hundred day moving average price of $16.38. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.23.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.02%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Bank of America cut their target price on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. TD Cowen decreased their price target on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Evercore ISI reissued an “in-line” rating and issued a $18.00 price objective (down previously from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $20.00.

Check Out Our Latest Report on NOV

About NOV

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NOV (NYSE:NOV)

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