Quantinno Capital Management LP Makes New Investment in NOV Inc. (NYSE:NOV)

Quantinno Capital Management LP acquired a new stake in shares of NOV Inc. (NYSE:NOV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 20,752 shares of the oil and gas exploration company’s stock, valued at approximately $331,000.

Other hedge funds also recently made changes to their positions in the company. Deprince Race & Zollo Inc. raised its position in 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 valued at $32,431,000 after purchasing an additional 1,574,188 shares in the last quarter. WINTON GROUP Ltd increased its position in shares of NOV by 1,866.3% during the 2nd quarter. WINTON GROUP Ltd now owns 841,078 shares of the oil and gas exploration company’s stock valued at $15,989,000 after purchasing an additional 798,303 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 valued at $46,000 after buying an additional 2,735 shares in the last quarter. Bank of Montreal Can lifted its position in NOV by 519.1% in the 3rd quarter. Bank of Montreal Can now owns 438,068 shares of the oil and gas exploration company’s stock worth $7,000,000 after buying an additional 367,308 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its stake in NOV by 41.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 129,959 shares of the oil and gas exploration company’s stock worth $2,471,000 after buying an additional 38,044 shares in the last quarter. 93.27% of the stock is owned by institutional investors.

Insider Buying and Selling

In other NOV 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 transaction of $28,722.40. Following the completion of the transaction, the director now owns 110,951 shares of the company’s stock, valued at approximately $1,786,311.10. This trade represents a 1.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.85% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective 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. Citigroup downgraded shares of NOV from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $21.00 to $18.00 in a research note on Monday, November 11th. Barclays reduced their price objective on NOV from $17.00 to $16.00 and set an “underweight” rating on the stock in a research note on Tuesday, October 29th. Susquehanna lowered their target price on NOV from $22.00 to $21.00 and set a “positive” rating for the company in a research note on Monday, October 28th. Finally, BMO Capital Markets reduced their price target on NOV from $22.00 to $20.00 and set a “market perform” rating on the stock in a research report on Thursday, October 10th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $20.64.

NOV Stock Performance

NYSE:NOV opened at $14.97 on Monday. The company has a quick ratio of 1.65, a current ratio of 2.57 and a debt-to-equity ratio of 0.26. The firm’s fifty day simple moving average is $15.84 and its 200 day simple moving average is $17.10. The stock has a market cap of $5.82 billion, a P/E ratio of 5.52, a price-to-earnings-growth ratio of 0.89 and a beta of 1.66. NOV Inc. has a twelve month low of $14.83 and a twelve month high of $21.23.

NOV Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, December 6th. NOV’s dividend payout ratio is currently 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.