NOV Inc. (NYSE:NOV) Stock Holdings Increased by Algert Global LLC

Algert Global LLC boosted its stake in shares of NOV Inc. (NYSE:NOV) by 17.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 266,014 shares of the oil and gas exploration company’s stock after purchasing an additional 39,780 shares during the period. Algert Global LLC’s holdings in NOV were worth $4,248,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC grew its holdings in shares of NOV by 5.4% during the 3rd quarter. Cerity Partners LLC now owns 64,240 shares of the oil and gas exploration company’s stock valued at $1,026,000 after acquiring an additional 3,274 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in NOV by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,927,965 shares of the oil and gas exploration company’s stock valued at $46,760,000 after purchasing an additional 55,056 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in NOV in the third quarter valued at about $479,000. Pzena Investment Management LLC grew 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 valued at $687,143,000 after purchasing an additional 7,851,220 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in NOV in the 3rd quarter worth about $96,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Insider Activity

In related news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction dated 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 directly owns 110,951 shares in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on NOV shares. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their target price on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Susquehanna cut their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a report on Monday, October 28th. BMO Capital Markets decreased their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.64.

NOV Trading Up 1.3 %

Shares of NOV stock opened at $16.61 on Monday. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 0.96 and a beta of 1.66. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23. The company’s fifty day simple moving average is $16.05 and its 200-day simple moving average is $17.42. 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 will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. NOV’s payout ratio is 11.07%.

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.