Orion Portfolio Solutions LLC Sells 4,198 Shares of NOV Inc. (NYSE:NOV)

Orion Portfolio Solutions LLC decreased its holdings in shares of NOV Inc. (NYSE:NOV) by 13.9% during the 3rd quarter, Holdings Channel reports. The firm owned 26,036 shares of the oil and gas exploration company’s stock after selling 4,198 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in NOV were worth $416,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Deprince Race & Zollo Inc. boosted its holdings in shares of NOV by 1,194.1% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock worth $32,431,000 after buying an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd boosted its stake in NOV by 1,866.3% during the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock worth $15,989,000 after acquiring an additional 798,303 shares in the last quarter. International Assets Investment Management LLC grew its holdings in NOV by 1,590.1% in the third quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after purchasing an additional 2,735 shares during the period. Bank of Montreal Can raised its holdings in shares of NOV by 519.1% during the third quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock valued at $7,000,000 after purchasing an additional 367,308 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of NOV during the 3rd quarter worth about $35,709,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen cut their price target on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and cut their price target for the company from $21.00 to $18.00 in a research note on Monday, November 11th. Finally, ATB Capital restated a “sector perform” rating and issued a $19.00 target price on shares of NOV in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $20.36.

NOV Trading Down 2.5 %

Shares of NOV stock opened at $14.19 on Thursday. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.52 billion, a P/E ratio of 5.24, a PEG ratio of 0.87 and a beta of 1.66. The company has a 50 day moving average of $15.74 and a 200-day moving average of $17.02. NOV Inc. has a 12-month low of $14.09 and a 12-month high of $21.23.

NOV Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.075 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.11%. NOV’s payout ratio is presently 11.07%.

Insider Transactions at NOV

In other NOV 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 sale, the director now directly 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 Securities & Exchange Commission, which is available through this link. 1.85% of the stock is owned by corporate insiders.

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.