Victory Capital Management Inc. Acquires 26,792 Shares of NOV Inc. (NYSE:NOV)

Victory Capital Management Inc. raised its holdings in shares of NOV Inc. (NYSE:NOV) by 32.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,984 shares of the oil and gas exploration company’s stock after purchasing an additional 26,792 shares during the quarter. Victory Capital Management Inc.’s holdings in NOV were worth $1,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners bought a new stake in shares of NOV during the 1st quarter valued at $119,686,000. Bank of New York Mellon Corp grew its position in shares of NOV by 67.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,928,911 shares of the oil and gas exploration company’s stock valued at $188,749,000 after buying an additional 3,989,095 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in NOV by 40.0% in the second quarter. Dimensional Fund Advisors LP now owns 12,138,093 shares of the oil and gas exploration company’s stock valued at $230,743,000 after acquiring an additional 3,470,860 shares during the last quarter. AQR Capital Management LLC increased its position in NOV by 232.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock valued at $92,938,000 after purchasing an additional 3,418,885 shares during the period. Finally, Deprince Race & Zollo Inc. raised its holdings in NOV by 1,194.1% during the 2nd 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 last quarter. 93.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NOV

In other news, Director David D. Harrison sold 1,784 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $16.10, for a total value of $28,722.40. Following the transaction, the director now directly owns 110,951 shares in the company, valued at $1,786,311.10. This trade represents a 1.58 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.85% of the stock is owned by insiders.

NOV Stock Up 1.3 %

Shares of NYSE NOV opened at $16.61 on Monday. The firm has a market capitalization of $6.46 billion, a PE ratio of 6.13, a price-to-earnings-growth ratio of 0.95 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. The firm has a fifty day simple moving average of $16.05 and a two-hundred day simple moving average of $17.42. NOV Inc. has a 12 month low of $14.98 and a 12 month high of $21.23.

NOV Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 1.81%. The ex-dividend date is Friday, December 6th. NOV’s dividend payout ratio is 11.07%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets decreased their price objective on shares of 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. dropped their price objective on shares of NOV from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $18.00 in a report on Monday, November 11th. TD Cowen cut their price objective on shares of NOV from $28.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, October 28th. Finally, Stifel Nicolaus lowered their target price on NOV from $25.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, October 28th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.64.

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.