Assenagon Asset Management S.A. Invests $6.33 Million in NOV Inc. (NYSE:NOV)

Assenagon Asset Management S.A. bought a new position in NOV Inc. (NYSE:NOV) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 433,569 shares of the oil and gas exploration company’s stock, valued at approximately $6,330,000. Assenagon Asset Management S.A. owned approximately 0.11% of NOV at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new position in NOV in the third quarter worth $36,000. American National Bank & Trust acquired a new position in NOV during the 3rd quarter worth about $39,000. International Assets Investment Management LLC grew its holdings in NOV by 1,590.1% during the 3rd quarter. International Assets Investment Management LLC now owns 2,907 shares of the oil and gas exploration company’s stock worth $46,000 after acquiring an additional 2,735 shares during the last quarter. Brooklyn Investment Group acquired a new stake in NOV in the 3rd quarter valued at about $48,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in shares of NOV in the second quarter worth about $78,000. 93.27% of the stock is currently owned by institutional investors.

NOV Stock Performance

NOV stock opened at $15.64 on Monday. NOV Inc. has a 1-year low of $13.94 and a 1-year high of $21.23. 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 market cap of $6.08 billion, a PE ratio of 5.77, a P/E/G ratio of 0.90 and a beta of 1.66. The business’s 50-day moving average price is $15.28 and its two-hundred day moving average price is $16.48.

NOV Dividend Announcement

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

Analyst Ratings Changes

NOV has been the subject of a number of research reports. Barclays lowered their price target on shares of NOV from $16.00 to $12.00 and set an “underweight” rating for the company in a report on Wednesday, December 18th. Atb Cap Markets cut NOV from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Bank of America cut their price target on NOV from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Wells Fargo & Company lowered their price objective on NOV from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Monday, November 4th. Finally, Evercore ISI restated an “in-line” rating and set a $18.00 target price (down from $25.00) on shares of NOV in a research report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $20.00.

Insider Transactions at NOV

In other NOV news, Director David D. Harrison sold 1,784 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 110,951 shares in the company, valued at approximately $1,786,311.10. The trade was a 1.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.85% of the stock is owned by insiders.

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.