Aigen Investment Management LP Decreases Stake in NOV Inc. (NYSE:NOV)

Aigen Investment Management LP decreased its holdings in NOV Inc. (NYSE:NOV) by 56.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,178 shares of the oil and gas exploration company’s stock after selling 19,973 shares during the quarter. Aigen Investment Management LP’s holdings in NOV were worth $242,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its holdings in shares of NOV by 41.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 19,223 shares of the oil and gas exploration company’s stock valued at $375,000 after purchasing an additional 5,646 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of NOV during the 1st quarter worth approximately $229,000. State Board of Administration of Florida Retirement System boosted its stake in shares of NOV by 0.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 449,923 shares of the oil and gas exploration company’s stock worth $8,328,000 after acquiring an additional 3,535 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of NOV in the 1st quarter worth approximately $314,000. Finally, O Shaughnessy Asset Management LLC purchased a new position in NOV in the 1st quarter valued at approximately $277,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Stock Down 1.5 %

Shares of NYSE:NOV opened at $15.97 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.65 and a debt-to-equity ratio of 0.26. The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 5.89, a PEG ratio of 0.94 and a beta of 1.66. The stock’s 50-day moving average price is $16.02 and its two-hundred day moving average price is $17.51. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23.

NOV Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.075 dividend. 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 1.88%. NOV’s payout ratio is 11.07%.

Wall Street Analyst Weigh In

NOV has been the topic of several research reports. Morgan Stanley lowered their target price on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. BMO Capital Markets lowered their price objective on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. Stifel Nicolaus cut their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company dropped their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Susquehanna reduced their target price on NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.64.

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.