NOV Inc. (NYSE:NOV) Shares Purchased by GSA Capital Partners LLP

GSA Capital Partners LLP boosted its stake in shares of NOV Inc. (NYSE:NOV) by 63.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 46,808 shares of the oil and gas exploration company’s stock after purchasing an additional 18,102 shares during the quarter. GSA Capital Partners LLP’s holdings in NOV were worth $748,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NOV. Stanley Laman Group Ltd. acquired a new position in shares of NOV during the 2nd quarter valued at about $4,031,000. Deprince Race & Zollo Inc. grew its stake in shares of NOV by 1,194.1% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after buying an additional 1,574,188 shares during the period. WINTON GROUP Ltd increased its holdings in shares of NOV by 1,866.3% during the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after buying an additional 798,303 shares during the last quarter. Canandaigua National Bank & Trust Co. purchased a new stake in shares of NOV during the 2nd quarter valued at approximately $1,100,000. Finally, Boston Partners acquired a new position in NOV in the first quarter valued at approximately $119,686,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Stock Performance

Shares of NOV stock opened at $15.97 on Monday. The firm has a 50 day moving average of $16.02 and a two-hundred day moving average of $17.50. The stock has a market capitalization of $6.21 billion, a PE ratio of 5.89, a P/E/G ratio of 0.92 and a beta of 1.66. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23.

NOV Announces Dividend

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 dividend payout ratio (DPR) is presently 11.07%.

Analysts Set New Price Targets

NOV has been the subject of several recent analyst reports. Citigroup cut NOV from a “buy” rating to a “neutral” rating and cut their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price objective on shares of NOV in a report on Monday, July 29th. BMO Capital Markets decreased their target price on shares of NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Stifel Nicolaus dropped their price target 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. Finally, Benchmark restated a “hold” rating on shares of NOV in a report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, NOV presently has an average rating of “Hold” and an average target price of $21.64.

NOV 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.