Intech Investment Management LLC Sells 7,963 Shares of NOV Inc. $NOV

Intech Investment Management LLC cut its stake in NOV Inc. (NYSE:NOV) by 20.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,284 shares of the oil and gas exploration company’s stock after selling 7,963 shares during the quarter. Intech Investment Management LLC’s holdings in NOV were worth $389,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new position in NOV in the first quarter worth about $25,000. Quarry LP raised its position in shares of NOV by 119.7% in the 1st quarter. Quarry LP now owns 3,407 shares of the oil and gas exploration company’s stock worth $52,000 after acquiring an additional 1,856 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in shares of NOV by 395.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 3,660 shares of the oil and gas exploration company’s stock valued at $45,000 after purchasing an additional 2,921 shares during the period. Signaturefd LLC boosted its position in shares of NOV by 33.2% during the second quarter. Signaturefd LLC now owns 3,733 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 931 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in NOV by 30.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 4,937 shares of the oil and gas exploration company’s stock worth $75,000 after purchasing an additional 1,155 shares during the period. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling at NOV

In other NOV news, Director Christian S. Kendall purchased 70,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was purchased at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the purchase, the director directly owned 85,949 shares of the company’s stock, valued at $1,242,822.54. This trade represents a 438.90% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.08% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on NOV. Barclays lowered their price objective on NOV from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Tuesday, November 11th. Royal Bank Of Canada lifted their price target on shares of NOV from $17.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Piper Sandler dropped their price objective on shares of NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Stifel Nicolaus raised their target price on shares of NOV from $17.00 to $19.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Citigroup lifted their target price on shares of NOV from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, November 12th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, NOV has a consensus rating of “Hold” and an average target price of $15.54.

NOV Stock Up 1.8%

NYSE:NOV opened at $15.36 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.72 and a current ratio of 2.55. The firm has a market cap of $5.60 billion, a P/E ratio of 15.36, a P/E/G ratio of 4.73 and a beta of 1.25. NOV Inc. has a fifty-two week low of $10.84 and a fifty-two week high of $16.66. The firm has a 50-day simple moving average of $14.15 and a two-hundred day simple moving average of $13.32.

NOV (NYSE:NOV) last issued its earnings results on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.NOV’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 earnings per share. Analysts predict that NOV Inc. will post 1.4 earnings per share for the current fiscal year.

NOV Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.075 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.0%. NOV’s dividend payout ratio (DPR) is presently 30.00%.

NOV Company 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.