Goehring & Rozencwajg Associates LLC Sells 5,591 Shares of NOV Inc. (NYSE:NOV)

Goehring & Rozencwajg Associates LLC trimmed its stake in NOV Inc. (NYSE:NOV) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 189,652 shares of the oil and gas exploration company’s stock after selling 5,591 shares during the period. Goehring & Rozencwajg Associates LLC’s holdings in NOV were worth $2,691,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. boosted its position in NOV by 12,344.0% during the 4th quarter. Pacer Advisors Inc. now owns 12,309,433 shares of the oil and gas exploration company’s stock valued at $179,718,000 after acquiring an additional 12,210,514 shares in the last quarter. Pzena Investment Management LLC grew its stake in NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock worth $687,143,000 after purchasing an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its position in NOV by 23.1% during 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 buying an additional 6,963,660 shares during the period. Weiss Asset Management LP bought a new stake in shares of NOV during the 3rd quarter valued at $35,709,000. Finally, Greenhaven Associates Inc. grew its position in shares of NOV by 61.7% in the 4th quarter. Greenhaven Associates Inc. now owns 3,291,042 shares of the oil and gas exploration company’s stock worth $48,049,000 after buying an additional 1,255,666 shares during the period. Hedge funds and other institutional investors own 93.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Barclays cut their price objective on shares of NOV from $16.00 to $12.00 and set an “underweight” rating on the stock in a report on Wednesday, December 18th. Stifel Nicolaus decreased their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, October 28th. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Piper Sandler initiated coverage on NOV in a report on Thursday, December 19th. They issued a “neutral” rating and a $17.00 target price on the stock. Finally, Susquehanna cut their price target on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.47.

NOV Stock Up 0.9 %

Shares of NOV stock opened at $15.62 on Friday. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 0.93 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.57 and a quick ratio of 1.65. The company’s fifty day moving average price is $14.91 and its 200-day moving average price is $16.13. NOV Inc. has a one year low of $13.94 and a one year high of $21.20.

NOV (NYSE:NOV) last announced its quarterly earnings data on Tuesday, February 4th. The oil and gas exploration company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. NOV had a return on equity of 10.82% and a net margin of 12.05%. Sell-side analysts expect that NOV Inc. will post 1.53 EPS for the current fiscal year.

NOV Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date was Friday, December 6th. NOV’s dividend payout ratio (DPR) is currently 11.07%.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the sale, the director now directly owns 110,951 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

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.