International Assets Investment Management LLC Raises Position in NOV Inc. (NYSE:NOV)

International Assets Investment Management LLC grew its position in shares of NOV Inc. (NYSE:NOV) by 1,590.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,907 shares of the oil and gas exploration company’s stock after purchasing an additional 2,735 shares during the period. International Assets Investment Management LLC’s holdings in NOV were worth $46,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wintrust Investments LLC raised its holdings in shares of NOV by 631.6% during the first 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 position in shares of NOV in the second quarter valued at approximately $4,031,000. Deprince Race & Zollo Inc. increased its position in 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 worth $32,431,000 after purchasing 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 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after buying an additional 798,303 shares in the last quarter. Finally, Duality Advisers LP bought a new stake in NOV in the 1st quarter valued at approximately $2,646,000. Institutional investors and hedge funds own 93.27% of the company’s stock.

NOV Trading Down 1.5 %

Shares of NYSE:NOV opened at $16.53 on Friday. The business’s fifty day simple moving average is $16.11 and its 200-day simple moving average is $17.63. The company has a market capitalization of $6.43 billion, a PE ratio of 6.10, a P/E/G ratio of 0.88 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 Inc. has a 12-month low of $14.98 and a 12-month high of $21.23.

NOV Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.075 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.81%. NOV’s payout ratio is currently 11.07%.

Analysts Set New Price Targets

Several research firms have commented on NOV. BMO Capital Markets dropped their target price on NOV from $22.00 to $20.00 and set a “market perform” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. cut their price objective on NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company reduced their price objective on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday. Benchmark reaffirmed a “hold” rating on shares of NOV in a research report on Friday, July 26th. Finally, Bank of America cut their price objective on NOV from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, NOV presently has a consensus rating of “Moderate Buy” and an average price target of $21.86.

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.