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

Atom Investors LP trimmed its holdings in shares of NOV Inc. (NYSE:NOV) by 52.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 128,098 shares of the oil and gas exploration company’s stock after selling 140,886 shares during the period. Atom Investors LP’s holdings in NOV were worth $2,046,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NOV. Tidal Investments LLC raised its holdings in NOV by 12.0% during the first quarter. Tidal Investments LLC now owns 14,515 shares of the oil and gas exploration company’s stock worth $283,000 after acquiring an additional 1,560 shares in the last quarter. Comerica Bank boosted its holdings in shares of NOV by 1.7% in the 1st quarter. Comerica Bank now owns 168,458 shares of the oil and gas exploration company’s stock valued at $3,288,000 after buying an additional 2,871 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of NOV by 18.2% in the second quarter. GAMMA Investing LLC now owns 5,496 shares of the oil and gas exploration company’s stock valued at $104,000 after buying an additional 848 shares in the last quarter. Mather Group LLC. increased its holdings in NOV by 17.2% during the second quarter. Mather Group LLC. now owns 5,706 shares of the oil and gas exploration company’s stock worth $111,000 after buying an additional 839 shares during the last quarter. Finally, CWM LLC raised its position in NOV by 83.0% during the second quarter. CWM LLC now owns 19,657 shares of the oil and gas exploration company’s stock worth $374,000 after acquiring an additional 8,914 shares in the last quarter. Institutional investors own 93.27% of the company’s stock.

Insider Activity

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 transaction of $28,722.40. Following the completion of the sale, the director now owns 110,951 shares of the company’s stock, valued at $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.85% of the company’s stock.

NOV Stock Up 1.5 %

Shares of NOV opened at $16.27 on Tuesday. 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 Inc. has a 12 month low of $14.98 and a 12 month high of $21.23. The firm’s 50 day moving average is $16.00 and its 200-day moving average is $17.32. The stock has a market capitalization of $6.33 billion, a PE ratio of 6.00, a P/E/G ratio of 0.93 and a beta of 1.66.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 annualized dividend and a yield of 1.84%. NOV’s dividend payout ratio is presently 11.07%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on NOV shares. Stifel Nicolaus lowered their price objective on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Barclays lowered their price target on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. JPMorgan Chase & Co. cut their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, October 3rd. Wells Fargo & Company reduced their target price on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research note on Monday, November 4th. Finally, Bank of America dropped their price target 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 analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $21.64.

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.