Atom Investors LP Has $2.05 Million Stock Position in NOV Inc. (NYSE:NOV)

Atom Investors LP cut its holdings in NOV Inc. (NYSE:NOV) by 52.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 128,098 shares of the oil and gas exploration company’s stock after selling 140,886 shares during the quarter. Atom Investors LP’s holdings in NOV were worth $2,046,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Verition Fund Management LLC boosted its stake in shares of NOV by 767.1% in the 3rd quarter. Verition Fund Management LLC now owns 163,317 shares of the oil and gas exploration company’s stock valued at $2,608,000 after purchasing an additional 144,483 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NOV by 5.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 84,386 shares of the oil and gas exploration company’s stock valued at $1,348,000 after buying an additional 4,721 shares in the last quarter. Glenmede Trust Co. NA bought a new stake in shares of NOV during the third quarter worth $13,730,000. Brooklyn Investment Group acquired a new position in shares of NOV during the third quarter worth $48,000. Finally, Qsemble Capital Management LP acquired a new position in shares of NOV during the third quarter worth $1,928,000. 93.27% of the stock is owned by institutional investors and hedge funds.

NOV Stock Up 1.5 %

Shares of NYSE:NOV opened at $16.27 on Tuesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.65 and a current ratio of 2.57. NOV Inc. has a 52-week low of $14.98 and a 52-week high of $21.23. The business’s 50 day simple moving average is $16.00 and its two-hundred day simple moving average is $17.32. The firm has a market cap of $6.33 billion, a P/E ratio of 6.00, a PEG ratio of 0.93 and a beta of 1.66.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 dividend on an annualized basis and a yield of 1.84%. NOV’s dividend payout ratio (DPR) is presently 11.07%.

Wall Street Analysts Forecast Growth

NOV has been the topic of a number of research reports. Citigroup lowered NOV from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. Bank of America reduced their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Susquehanna lowered their target price on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research report on Monday, October 28th. Stifel Nicolaus lowered their price objective on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Finally, Wells Fargo & Company reduced their target price on NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $21.64.

Insider Buying and Selling at NOV

In related news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now owns 110,951 shares in the company, valued at $1,786,311.10. This represents a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.85% of the company’s stock.

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.