Diversified Trust Co Has $254,000 Stake in NOV Inc. (NYSE:NOV)

Diversified Trust Co lowered its stake in shares of NOV Inc. (NYSE:NOV) by 53.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 17,409 shares of the oil and gas exploration company’s stock after selling 19,874 shares during the quarter. Diversified Trust Co’s holdings in NOV were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in shares of NOV by 22.3% during the 3rd quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after acquiring an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in NOV by 23.1% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after purchasing an additional 6,963,660 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NOV by 40.0% during the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock worth $230,743,000 after purchasing an additional 3,470,860 shares during the period. AQR Capital Management LLC grew its stake in NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after buying an additional 3,418,885 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in NOV in the 3rd quarter valued at about $35,709,000. Institutional investors own 93.27% of the company’s stock.

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 1,784 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total transaction of $28,722.40. Following the transaction, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. This represents a 1.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.85% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. BMO Capital Markets lowered their price target on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Thursday, October 10th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Susquehanna reduced their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research note on Monday, October 28th. TD Cowen decreased their price target on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Seaport Res Ptn downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research note on Sunday, January 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NOV has an average rating of “Hold” and an average price target of $20.14.

NOV Stock Performance

Shares of NOV opened at $14.52 on Friday. The firm’s fifty day simple moving average is $15.37 and its two-hundred day simple moving average is $16.62. NOV Inc. has a 12 month low of $13.94 and a 12 month high of $21.23. The stock has a market capitalization of $5.65 billion, a P/E ratio of 5.36, a price-to-earnings-growth ratio of 0.87 and a beta of 1.66. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 2.07%. NOV’s dividend payout ratio is presently 11.07%.

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.