Trexquant Investment LP Sells 6,695 Shares of NOV Inc. (NYSE:NOV)

Trexquant Investment LP lessened its stake in shares of NOV Inc. (NYSE:NOV) by 0.9% during the 4th quarter, Holdings Channel reports. The fund owned 771,635 shares of the oil and gas exploration company’s stock after selling 6,695 shares during the period. Trexquant Investment LP’s holdings in NOV were worth $11,266,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. UMB Bank n.a. boosted its position in NOV by 222.3% during the fourth quarter. UMB Bank n.a. now owns 2,337 shares of the oil and gas exploration company’s stock valued at $34,000 after purchasing an additional 1,612 shares in the last quarter. Quarry LP purchased a new stake in shares of NOV during the third quarter valued at about $36,000. Signaturefd LLC boosted its holdings in shares of NOV by 41.3% in the 4th quarter. Signaturefd LLC now owns 2,587 shares of the oil and gas exploration company’s stock valued at $38,000 after buying an additional 756 shares in the last quarter. CoreFirst Bank & Trust purchased a new position in shares of NOV in the 4th quarter worth approximately $41,000. Finally, Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of NOV during the 4th quarter worth approximately $42,000. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

NOV Price Performance

NYSE:NOV opened at $15.34 on Thursday. The firm’s fifty day moving average is $15.00 and its two-hundred day moving average is $15.38. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.02 and a beta of 1.34. NOV Inc. has a one year low of $13.78 and a one year high of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.64 and a current ratio of 2.46.

NOV (NYSE:NOV) last posted its earnings results on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 9.88% and a net margin of 7.16%. Research analysts expect that NOV Inc. will post 1.4 EPS for the current year.

NOV Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend was Friday, March 14th. NOV’s dividend payout ratio is currently 18.63%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NOV. Barclays lifted their price target on shares of NOV from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Tuesday, February 18th. Piper Sandler upped their target price on NOV from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Evercore ISI restated an “in-line” rating and set a $18.00 price target (down previously from $25.00) on shares of NOV in a research note on Wednesday, January 15th. ATB Capital restated a “sector perform” rating and set a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Finally, Royal Bank of Canada upgraded shares of NOV from a “sector perform” rating to an “outperform” rating and set a $22.00 target price for the company in a research note on Monday, March 24th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, NOV has an average rating of “Hold” and an average target price of $19.60.

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.