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

Intech Investment Management LLC lessened its stake in NOV Inc. (NYSE:NOV) by 20.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,284 shares of the oil and gas exploration company’s stock after selling 7,963 shares during the period. Intech Investment Management LLC’s holdings in NOV were worth $389,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Advisory Services Inc. grew its holdings in shares of NOV by 78.7% in the first quarter. Avantax Advisory Services Inc. now owns 82,024 shares of the oil and gas exploration company’s stock worth $1,248,000 after acquiring an additional 36,130 shares during the period. LPL Financial LLC boosted its position in NOV by 41.6% in the first quarter. LPL Financial LLC now owns 84,035 shares of the oil and gas exploration company’s stock worth $1,279,000 after purchasing an additional 24,695 shares during the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of NOV during the 1st quarter valued at about $25,000. Natixis Advisors LLC increased its position in shares of NOV by 45.0% during the 1st quarter. Natixis Advisors LLC now owns 57,859 shares of the oil and gas exploration company’s stock valued at $881,000 after purchasing an additional 17,959 shares during the last quarter. Finally, Jefferies Financial Group Inc. lifted its stake in shares of NOV by 40.8% in the 1st quarter. Jefferies Financial Group Inc. now owns 73,504 shares of the oil and gas exploration company’s stock worth $1,119,000 after purchasing an additional 21,283 shares during the period. 93.27% of the stock is owned by institutional investors.

NOV Price Performance

NYSE:NOV opened at $15.36 on Friday. The business’s 50-day simple moving average is $14.15 and its two-hundred day simple moving average is $13.32. NOV Inc. has a 52 week low of $10.84 and a 52 week high of $16.66. The stock has a market cap of $5.60 billion, a PE ratio of 15.36, a P/E/G ratio of 4.73 and a beta of 1.25. The company has a quick ratio of 1.72, a current ratio of 2.55 and a debt-to-equity ratio of 0.26.

NOV (NYSE:NOV) last released its quarterly earnings data on Tuesday, October 28th. The oil and gas exploration company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.13). NOV had a return on equity of 5.89% and a net margin of 4.36%.During the same period in the prior year, the business posted $0.33 earnings per share. The firm’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts forecast that NOV Inc. will post 1.4 EPS for the current fiscal year.

NOV Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have commented on NOV. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of NOV in a report on Wednesday, October 8th. Citigroup raised their target price on NOV from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, November 12th. Piper Sandler lowered their target price on NOV from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Barclays reduced their price target on NOV from $14.00 to $13.00 and set an “underweight” rating for the company in a research report on Tuesday, November 11th. Finally, Stifel Nicolaus lifted their price objective on NOV from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, NOV has a consensus rating of “Hold” and an average target price of $15.54.

Insider Activity

In related news, Director Christian S. Kendall acquired 70,000 shares of NOV stock in a transaction dated Friday, November 21st. The shares were purchased at an average price of $14.46 per share, for a total transaction of $1,012,200.00. Following the completion of the transaction, the director directly owned 85,949 shares in the company, valued at approximately $1,242,822.54. This represents a 438.90% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.08% of the stock is currently owned by insiders.

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.