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

Victory Capital Management Inc. boosted its holdings in shares of NOV Inc. (NYSE:NOV) by 32.2% during the 3rd quarter, Holdings Channel reports. The firm owned 109,984 shares of the oil and gas exploration company’s stock after buying an additional 26,792 shares during the period. Victory Capital Management Inc.’s holdings in NOV were worth $1,756,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. GSA Capital Partners LLP raised its position in shares of NOV by 63.1% during the third quarter. GSA Capital Partners LLP now owns 46,808 shares of the oil and gas exploration company’s stock valued at $748,000 after buying an additional 18,102 shares during the last quarter. Innealta Capital LLC grew its stake in NOV by 49.9% during the third quarter. Innealta Capital LLC now owns 15,448 shares of the oil and gas exploration company’s stock valued at $247,000 after acquiring an additional 5,140 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in NOV by 176.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 524,781 shares of the oil and gas exploration company’s stock valued at $8,381,000 after acquiring an additional 334,925 shares during the last quarter. HM Payson & Co. lifted its stake in NOV by 2.1% in the 3rd quarter. HM Payson & Co. now owns 49,000 shares of the oil and gas exploration company’s stock worth $783,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of NOV by 27.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 12,838 shares of the oil and gas exploration company’s stock valued at $205,000 after purchasing an additional 2,788 shares during the last quarter. 93.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Citigroup downgraded NOV from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $21.00 to $18.00 in a research report on Monday, November 11th. TD Cowen lowered their target price on NOV from $28.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, October 28th. Wells Fargo & Company reduced their price target on shares of NOV from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Monday, November 4th. BMO Capital Markets dropped 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 note on Thursday, October 10th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of NOV in a report on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.64.

Insider Activity

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 completion of 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.85% of the company’s stock.

NOV Stock Performance

Shares of NYSE:NOV opened at $16.61 on Monday. NOV Inc. has a 1 year low of $14.98 and a 1 year high of $21.23. The firm has a market capitalization of $6.46 billion, a PE ratio of 6.13, a P/E/G ratio of 0.95 and a beta of 1.66. 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 business’s 50 day moving average price is $16.05 and its 200-day moving average price is $17.42.

NOV Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.075 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.30 annualized dividend and a dividend yield of 1.81%. NOV’s dividend payout ratio is currently 11.07%.

NOV 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.