Verum Partners LLC Boosts Position in NOV Inc. (NYSE:NOV)

Verum Partners LLC lifted its holdings in shares of NOV Inc. (NYSE:NOV) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,050 shares of the oil and gas exploration company’s stock after purchasing an additional 1,248 shares during the period. Verum Partners 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 added to or reduced their stakes in NOV. Quarry LP acquired a new stake in shares of NOV in the third quarter worth $36,000. UMB Bank n.a. raised its stake in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after buying an additional 1,612 shares in the last quarter. American National Bank & Trust acquired a new position in NOV in the third quarter worth $39,000. International Assets Investment Management LLC grew its position in shares of NOV by 1,590.1% during 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. Finally, Brooklyn Investment Group bought a new stake in shares of NOV in the 3rd quarter worth approximately $48,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NOV has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. 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 report on Monday, October 14th. Piper Sandler assumed coverage on shares of NOV in a research note on Thursday, December 19th. They issued a “neutral” rating and a $17.00 price objective for the company. Citigroup lowered shares of NOV from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Finally, Wells Fargo & Company lowered their price target on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, NOV currently has a consensus rating of “Hold” and an average target price of $20.00.

Insider Activity

In other news, Director David D. Harrison sold 1,784 shares of the firm’s 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 completion of the sale, the director now directly owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.85% of the stock is currently owned by company insiders.

NOV Trading Down 0.6 %

Shares of NOV stock opened at $15.53 on Wednesday. The stock’s fifty day simple moving average is $15.24 and its 200 day simple moving average is $16.44. The firm has a market capitalization of $6.04 billion, a P/E ratio of 5.73, a P/E/G ratio of 0.99 and a beta of 1.66. NOV Inc. has a twelve month low of $13.94 and a twelve month high of $21.23. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26.

NOV Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date of this dividend was Friday, December 6th. NOV’s dividend payout ratio is 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.