Diversified Trust Co Sells 19,874 Shares of NOV Inc. (NYSE:NOV)

Diversified Trust Co cut its holdings in NOV Inc. (NYSE:NOV) by 53.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,409 shares of the oil and gas exploration company’s stock after selling 19,874 shares during the quarter. Diversified Trust Co’s holdings in NOV were worth $254,000 as of its most recent SEC filing.

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

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the stock in a transaction on 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 in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.85% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NOV has been the subject of several research analyst reports. Susquehanna decreased their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating for the company in a report on Monday, October 28th. Seaport Res Ptn lowered NOV from a “strong-buy” rating to a “hold” rating in a research report on Sunday, January 5th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler initiated coverage on shares of NOV in a research report on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price objective on the stock. Finally, TD Cowen reduced 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $20.14.

NOV Stock Down 0.7 %

NOV opened at $14.52 on Friday. The stock’s fifty day simple moving average is $15.37 and its 200 day simple moving average is $16.62. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.23. The stock has a market cap of $5.65 billion, a PE ratio of 5.36, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s payout ratio is presently 11.07%.

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.