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

Assenagon Asset Management S.A. purchased a new stake in shares of NOV Inc. (NYSE:NOV) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 433,569 shares of the oil and gas exploration company’s stock, valued at approximately $6,330,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NOV. Pzena Investment Management LLC raised its position in shares of NOV by 22.3% in the third quarter. Pzena Investment Management LLC now owns 43,027,106 shares of the oil and gas exploration company’s stock valued at $687,143,000 after purchasing an additional 7,851,220 shares during the period. Hotchkis & Wiley Capital Management LLC raised its holdings in NOV by 23.1% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 37,153,173 shares of the oil and gas exploration company’s stock valued at $593,336,000 after acquiring an additional 6,963,660 shares during the period. AQR Capital Management LLC lifted its position in NOV by 232.6% during the second quarter. AQR Capital Management LLC now owns 4,888,891 shares of the oil and gas exploration company’s stock worth $92,938,000 after acquiring an additional 3,418,885 shares during the last quarter. Weiss Asset Management LP bought a new stake in shares of NOV during the third quarter worth approximately $35,709,000. Finally, Deprince Race & Zollo Inc. increased its stake in shares of NOV by 1,194.1% during 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. 93.27% of the stock is owned by institutional investors.

NOV Trading Up 3.4 %

NYSE:NOV opened at $15.64 on Monday. NOV Inc. has a 12 month low of $13.94 and a 12 month 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 company has a 50-day moving average price of $15.28 and a 200-day moving average price of $16.48. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 5.77, a P/E/G ratio of 0.90 and a beta of 1.66.

NOV Dividend Announcement

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

Insider Buying and Selling

In other NOV news, Director David D. Harrison sold 1,784 shares of NOV stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $16.10, for a total value of $28,722.40. Following the completion of the transaction, the director now directly owns 110,951 shares of the company’s stock, 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 is accessible through this link. 1.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NOV. ATB Capital reaffirmed a “sector perform” rating and issued a $19.00 price objective on shares of NOV in a report on Tuesday, December 10th. Susquehanna lowered their price target on shares of NOV from $22.00 to $21.00 and set a “positive” rating on the stock in a research report on Monday, October 28th. Bank of America cut their price objective on shares of NOV from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, October 14th. Citigroup lowered shares of 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. Finally, Atb Cap Markets downgraded shares of NOV from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.00.

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.