Atria Investments Inc Cuts Position in NOV Inc. (NYSE:NOV)

Atria Investments Inc cut its stake in NOV Inc. (NYSE:NOV) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 46,351 shares of the oil and gas exploration company’s stock after selling 3,586 shares during the period. Atria Investments Inc’s holdings in NOV were worth $677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NOV. Pacer Advisors Inc. lifted its stake in NOV by 12,344.0% in the fourth quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock worth $179,718,000 after purchasing an additional 12,210,514 shares during the last quarter. Pzena Investment Management LLC lifted its stake in NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock worth $593,336,000 after purchasing an additional 6,963,660 shares during the last quarter. Weiss Asset Management LP bought a new stake in NOV in the third quarter worth $35,709,000. Finally, Greenhaven Associates Inc. lifted its stake in NOV by 61.7% in the fourth quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after purchasing an additional 1,255,666 shares during the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Trading Up 2.1 %

NYSE:NOV opened at $14.29 on Friday. NOV Inc. has a one year low of $13.78 and a one year high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46. The firm has a market cap of $5.44 billion, a P/E ratio of 8.87, a P/E/G ratio of 1.02 and a beta of 1.66. The firm has a 50-day simple moving average of $14.97 and a 200-day simple moving average of $15.55.

NOV (NYSE:NOV) last posted its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a net margin of 7.16% and a return on equity of 9.88%. Equities analysts anticipate that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.075 per share. The ex-dividend date is Friday, March 14th. This represents a $0.30 annualized dividend and a dividend yield of 2.10%. NOV’s dividend payout ratio (DPR) is presently 18.63%.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI reissued an “in-line” rating and issued a $18.00 price target (down from $25.00) on shares of NOV in a research note on Wednesday, January 15th. Barclays upped their price objective on shares of NOV from $12.00 to $13.00 and gave the company an “underweight” rating in a research note on Tuesday, February 18th. Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Royal Bank of Canada upped their price objective on shares of NOV from $21.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, February 6th. Finally, Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, NOV presently has an average rating of “Hold” and an average target price of $19.60.

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.