Privium Fund Management B.V. Cuts Stock Holdings in NOV Inc. (NYSE:NOV)

Privium Fund Management B.V. lowered its stake in NOV Inc. (NYSE:NOV) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,925 shares of the oil and gas exploration company’s stock after selling 1,794 shares during the period. Privium Fund Management B.V.’s holdings in NOV were worth $606,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NOV. Wintrust Investments LLC increased its stake in NOV by 631.6% in the 1st quarter. Wintrust Investments LLC now owns 81,943 shares of the oil and gas exploration company’s stock worth $1,600,000 after purchasing an additional 70,743 shares during the period. Stanley Laman Group Ltd. bought a new stake in NOV during the 2nd quarter valued at $4,031,000. Deprince Race & Zollo Inc. increased its position in shares of NOV by 1,194.1% in the second quarter. Deprince Race & Zollo Inc. now owns 1,706,017 shares of the oil and gas exploration company’s stock valued at $32,431,000 after acquiring an additional 1,574,188 shares during the period. WINTON GROUP Ltd increased its position in shares of NOV by 1,866.3% in the second quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after acquiring an additional 798,303 shares during the period. Finally, Canandaigua National Bank & Trust Co. bought a new position in shares of NOV during the second quarter valued at about $1,100,000. Institutional investors own 93.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NOV shares. JPMorgan Chase & Co. reduced their price target on NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Morgan Stanley reduced their target price on NOV from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Benchmark restated a “hold” rating on shares of NOV in a report on Friday, July 26th. Finally, Stifel Nicolaus cut their target price on shares of NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.86.

NOV Stock Performance

NOV stock opened at $16.28 on Friday. NOV Inc. has a twelve month low of $14.98 and a twelve month high of $21.23. 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 company has a market capitalization of $6.33 billion, a P/E ratio of 6.01, a PEG ratio of 0.96 and a beta of 1.66. The stock’s 50 day moving average is $16.08 and its 200 day moving average is $17.60.

NOV Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a $0.075 dividend. This represents a $0.30 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Friday, September 13th. NOV’s dividend payout ratio is presently 11.07%.

About NOV

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.