Atria Investments Inc Cuts Stake in NOV Inc. (NYSE:NOV)

Atria Investments Inc lessened its stake in NOV Inc. (NYSE:NOV) by 7.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,937 shares of the oil and gas exploration company’s stock after selling 4,127 shares during the quarter. Atria Investments Inc’s holdings in NOV were worth $797,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NOV. Rothschild Investment LLC bought a new stake in shares of NOV in the second quarter worth $28,000. American National Bank & Trust bought a new stake in shares of NOV in the 3rd quarter worth about $39,000. International Assets Investment Management LLC raised its stake in shares of NOV by 1,590.1% in the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock valued at $46,000 after purchasing an additional 2,735 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of NOV during the second quarter worth about $78,000. Finally, Signaturefd LLC grew its stake in NOV by 67.6% in the second quarter. Signaturefd LLC now owns 4,443 shares of the oil and gas exploration company’s stock worth $84,000 after purchasing an additional 1,792 shares in the last quarter. 93.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NOV has been the topic of several research reports. TD Cowen cut their price objective on NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. BMO Capital Markets reduced their price objective on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, October 10th. 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. Citigroup cut shares of NOV from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $21.00 to $18.00 in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. decreased their price target on shares of NOV from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, October 3rd. Two analysts have rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, NOV has an average rating of “Hold” and an average target price of $21.64.

NOV Stock Performance

Shares of NOV stock opened at $16.00 on Tuesday. NOV Inc. has a 12-month low of $14.98 and a 12-month high of $21.23. 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 firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of 5.90, a price-to-earnings-growth ratio of 0.92 and a beta of 1.66. The business has a 50 day simple moving average of $16.01 and a 200 day simple moving average of $17.49.

NOV Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio (DPR) is 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.