Algert Global LLC Increases Stock Holdings in NOV Inc. (NYSE:NOV)

Algert Global LLC boosted its stake in NOV Inc. (NYSE:NOV) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 266,014 shares of the oil and gas exploration company’s stock after acquiring an additional 39,780 shares during the quarter. Algert Global LLC owned about 0.07% of NOV worth $4,248,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. O Shaughnessy Asset Management LLC acquired a new position in NOV in the 1st quarter worth $277,000. Advisors Asset Management Inc. grew its position in shares of NOV by 110.0% during the first quarter. Advisors Asset Management Inc. now owns 14,903 shares of the oil and gas exploration company’s stock worth $291,000 after buying an additional 7,806 shares in the last quarter. Quadrature Capital Ltd increased its stake in shares of NOV by 3.1% in the first quarter. Quadrature Capital Ltd now owns 29,481 shares of the oil and gas exploration company’s stock worth $576,000 after buying an additional 889 shares during the last quarter. Lazard Asset Management LLC raised its holdings in NOV by 157.3% in the first quarter. Lazard Asset Management LLC now owns 8,977 shares of the oil and gas exploration company’s stock valued at $175,000 after acquiring an additional 5,488 shares in the last quarter. Finally, Dynasty Wealth Management LLC acquired a new position in NOV during the 1st quarter worth $320,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research note on Monday, November 4th. TD Cowen reduced their target price on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Stifel Nicolaus decreased their target price on NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Morgan Stanley dropped their price target on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America lowered their target price on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NOV currently has an average rating of “Hold” and an average price target of $21.64.

Insider Buying and Selling at NOV

In related news, Director David D. Harrison sold 1,784 shares of NOV 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 in the company, valued at $1,786,311.10. The trade was a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.85% of the stock is owned by company insiders.

NOV Price Performance

NYSE NOV opened at $16.61 on Monday. The company has a 50-day moving average price of $16.05 and a two-hundred day moving average price of $17.42. NOV Inc. has a 52 week low of $14.98 and a 52 week high of $21.23. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 6.13, a price-to-earnings-growth ratio of 0.96 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 firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 1.81%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio is currently 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.